28 Eastern Promenade Portland, ME 04101

This exceptional eight-unit apartment building, situated on a 0.15-acre lot in Portland, Maine's desirable Eastern Promenade, presents a compelling value-add investment opportunity. The 7,556 square foot building, constructed in 1900, boasts a charming Mansard architectural style. Currently configured as seven one-bedroom and one two-bedroom units, each apartment offers captivating harbor views and retains beautiful period details, including marble fireplaces and elegant chandeliers. The property is zoned R6 and features a unique blend of vintage charm and significant upside potential. While some upgrades and maintenance have already been completed (a detailed list is available), this property offers a considerable opportunity for enhancement and increased profitability. The asking price is $2,300,000, translating to $287,500 per unit and $304.39 per square foot. The property's prime location and inherent character make it an ideal candidate for condo conversion, further maximizing its investment potential. A 24-hour notice is required for showings. The APN is 003 O007001.