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Multi-Family Beach Community Property

40 Portland Avenue Old Lyme, CT 06371

40 Portland Avenue, Old Lyme, CT, 06371

$888,000

For Sale

$888,000

MULTI_FAMILY - Old Lyme, CT

Property Size2,225 SF

Lot Size0.12 Acres

Price / SF$399.10

AddedMay 19

Days on Market57

Last RefreshJul 14 at 1:06 pm

Property Features for 40 Portland Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: R-10
Bedrooms: 7
Bathrooms: 3
Rooms: Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 7, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 5
Parking: 5
Basement: Crawl Space
Standard status: Active
Size: 2,225 SF
Lot size: 0.12 Acres

Taxes and HOA fees

Tax Year: 2026
Tax Annual Amount: 7076

Utilities

Heating system: Baseboard
Water source: Private

Building Details

Year built: 1930

Listing agent Banglian Gao License #REB.0790952

Listing office United Realty Plus 324 Flanders Road, East Lyme, CT

Listing date May 19, 2026

MLS# 24176261 Listing URL

Investment Insights

Based on property information with market context.

This multi-family property on one lot contains two separate homes, including a main beach home with a connected in-law unit and a separate cottage. The main home features 3 bedrooms and 1 bathroom, along with an in-law unit with 1–2 bedrooms and 1 bathroom. The cottage provides 2 bedrooms and 1 bathroom. The property has recently been renovated and freshly painted, and it is described as suitable for year-round living.

The offering is in the Old Lyme Beach Community, with beach rights and a short walk to the beach.

Zoned R-10, the layout provides three distinct residential options within the same ownership, supporting a range of potential uses noted in the remarks, including family living or an investment approach such as academic renting.

Key Highlights

2 separate homes on 1 lot in the Old Lyme Beach community
Main beach house: 3 beds, 1 bath plus an in‑law unit with 1–2 beds and 1 bath
Cottage: 2 beds and 1 bath

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

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For sale
Triplexes
CT
Old Lyme
06371
40 Portland Avenue

What type of property is this?

Triplex - Recently renovated and freshly painted multi-family home with three living areas on one lot and beach rights.

Where is this triplex located?

The property is located at 40 Portland Avenue Old Lyme, CT.

What is the asking price?

The asking price for this property is $888,000.

What are key features of this property?

This property features: 2 separate homes on 1 lot in the Old Lyme Beach community; Main beach house: 3 beds, 1 bath plus an in‑law unit with 1–2 beds and 1 bath; Cottage: 2 beds and 1 bath