Opportunity awaits at this well-located two-unit property in Portland. Each spacious unit offers two bedrooms, one full bath and a comfortable five-room layout, with dedicated electric meters and water heaters. Currently tenant-occupied, generating rental income and offering an appealing option for investors or owner-occupants looking to offset their mortgage with rental revenue. Several major exterior and mechanical improvements have already been completed, including a newer furnace, water heater and roof. A full unfinished basement provides additional storage with laundry, while the attic offers potential to expand the second-floor unit, subject to applicable approvals. The paved driveway provides plenty of off-street parking—a valuable convenience in Portland. Located in a Multi-Use Commercial zone with excellent visibility and convenient access to shopping, local businesses, major roadways and the Maine Turnpike, the property may also offer possibilities for a home-based or small-business use. A versatile Portland property offering rental income, ample parking, recent major improvements and future potential!
Active
$699,000
1148-1150 Forest Avenue, Portland, ME 04103
4beds
2,136sqft
Multi Family
Built in 1930
-- sqft lot
$679,900 Zestimate®
$327/sqft
$-- HOA
What's special
Two bedroomsComfortable five-room layoutSpacious unitNewer furnace
- 6 days
- 328
- 5
Zillow last checked:
Listing updated:
Listed by:
Coastal Pine Real Estate, LLC
Source: Maine Listings,MLS#: 1681452
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Baseboard, Forced Air, Hot Water
Cooling
- None
Features
- 1st Floor Bedroom, Pantry
- Flooring: Laminate, Vinyl, Wood
- Basement: Interior Entry,Full,Unfinished
Interior area
- Total structure area: 2,136
- Total interior livable area: 2,136 sqft
- Finished area above ground: 2,136
- Finished area below ground: 0
Property
Parking
- Parking features: Paved, 5 - 10 Spaces, Off Street
Features
- Levels: Multi/Split
Lot
- Size: 3,920 Square Feet
- Features: Business District, City Lot, Near Shopping, Near Turnpike/Interstate, Sidewalks
Details
- Zoning: Multi Use Commercial
- Other equipment: Cable, Internet Access Available
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Multi Family
Materials
- Wood Frame, Vinyl Siding
- Foundation: Stone, Poured Concrete, Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1930
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Deering
Location
- Region: Portland
Financial & listing details
- Price per square foot: $327/sqft
- Annual tax amount: $6,608
- Date on market: 9/21/2026
- Road surface type: Paved
Estimated market value
$679,900
$646,000 - $714,000
$2,434/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/21/2026 | Listed for sale | $699,000+19.5%$327/sqft |
Source: | ||
| 9/3/2024 | Sold | $585,000-2.5%$274/sqft |
Source: | ||
| 7/10/2024 | Pending sale | $599,900$281/sqft |
Source: | ||
| 6/5/2024 | Listed for sale | $599,900$281/sqft |
Source: | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment







