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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 3:06 pm

    Property Features for 55-57-59 St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RN-4
    Rooms
    Basement
    Interior features
    Storage
    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
    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

    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 in Portland, Maine, this seven-unit multifamily property on Munjoy Hill includes a separate buildable lot. The property, situated in a residential zone, features seven units with updates, modern life-safety systems, and individual utilities. Tenants are responsible for their own heat, hot water, and electricity. The building has been maintained, with rents aligned with the market, resulting in a net operating income of approximately $107,000. The adjacent buildable lot is suitable for constructing 9 new residential units. Buildings in this zone can reach a height of up to 45 feet. Preliminary civil engineering and lot division work have been completed and are available for review. The property offers views of Casco Bay, the working waterfront, and the city skyline. Originally built as a double-triple, the property is located on a quiet street in a desirable coastal community. The lot size is 0.26 acres and the property size is 9,600 square feet.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2592
    Latitude
    43.6616

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    FAQs

    What type of property is this?
    Apartment building - Seven-unit multifamily property with buildable lot in desirable location.
    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, capable of supporting 9 new residential units with potential for ocean and city views.; - Seven-unit multifamily property in a desirable coastal community (Munjoy Hill, Portland) in a coveted RN4 residential zone.; - **Strong income-producing property with an NOI of ~$107,000 and a 5% cap rate.**
    (207) 775-0248
    Request Owner's contact information
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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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