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    55-57-59 St, Unit Lawrence Portland, ME 04101

    For Sale
    $2,250,000

    MULTI_FAMILY - Portland, ME

    Property size:
    9,600 SF
    Lot size:
    0.26 Acres
    Days on Market:
    24
    Last Refresh:
    Dec 7 at 6:06 am

    Property Features for 55-57-59 St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RN-4
    Rooms
    Bathroom 7, Bathroom 3, Bathroom 1, Bathroom 5, Bathroom 6, Basement, Bathroom 4, Bathroom 2
    Patio and Porch features
    Porch
    Pets allowed
    No
    Interior features
    1st Floor Bedroom, Bathtub, One-Floor Living, Pantry, Shower, Storage
    Fencing
    Fenced
    Basement
    Unfinished, Full
    Size
    9,600 SF
    Lot size
    0.26 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1915
    Floors in Building
    3
    Number of units
    7
    Flooring type
    Laminate, Wood, Tile, Vinyl
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Flat
    Additional Structures
    Storage

    Benchmark Real Estate

    Listing agent Thomas Landry (207) 775-0248

    Listing date Nov 14, 2025

    MLS# 1640137 Listing URL

    Copyright © 2025 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Portland Multifamily with Buildable Lot

    Located on a quiet street in Portland's historic Munjoy Hill neighborhood, this property features a seven-unit multifamily building and a separate buildable lot. The property is located within a coveted RN4 residential zone. Originally constructed as a double-triple, the building now contains seven units that have been updated and well-maintained. Each unit has individual utilities, and tenants are responsible for their own heat, hot water, and electricity. The building has modern life-safety systems. The adjoining buildable lot is capable of supporting 9 new residential units. Buildings in this zone may reach up to 45 feet in height. Preliminary civil engineering and lot division work have been completed and are available for review. The property has been surveyed. The lot size is 0.26 acres and the property size is 9600 square feet. The property is intended for multifamily residential use. The existing structure and any future development may offer views of Casco Bay, the working waterfront, and the city skyline.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.245838
    Latitude
    43.665084

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    FAQs

    What type of property is this?
    Apartment building - Seven-unit multifamily property with buildable lot in desirable coastal community.
    Where is this apartment building located?
    The property is located at 55-57-59 St, Unit Lawrence Portland, ME.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - Buildable lot included, supporting 9 new residential units in RN4 zone, allowing development potential.; - Strong income-producing property with ~$107,000 NOI and a 5% cap rate.; - Seven well-maintained units with individual utilities (tenants pay heat, hot water, and electricity) and modern life-safety systems.
    (207) 775-0248
    Request Owner's contact information
    55-57-59 St, Unit Lawrence Portland, ME 04101
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    Portland, ME 04101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    55-57-59 St, Unit Lawrence Portland, ME 04101
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