Located in the highly desirable Willard Beach neighborhood of South Portland, 238 Preble Street presents a rare opportunity to own a well-maintained 4-unit investment property just moments from the beach and vibrant Willard Square. Each spacious unit offers 2 bedrooms and 1 bathroom, providing strong rental appeal in one of Southern Maine's most sought-after coastal communities. Three of the four units have been fully renovated, featuring updated kitchens, baths, flooring, and modern finishes while maintaining the property's classic New England charm. Tenants enjoy easy access to Willard Beach, local restaurants, coffee shops, markets, and downtown Portland just minutes away. Whether you're looking to expand your portfolio or owner-occupy with additional rental income, this property combines location, lifestyle, and investment potential in an exceptional package.
Closed
$1,140,000
238 Preble Street, South Portland, ME 04106
8beds
3,812sqft
Multi Family
Built in 1970
-- sqft lot
$1,140,600 Zestimate®
$299/sqft
$2,519 Estimated rent
Home value
$1,140,600
$1.07M - $1.21M
$2,519/mo
Zestimate® history
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$5,751/mo
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List your homeWhat's special
Modern finishesMoments from the beachUpdated kitchensClassic new england charm
Zillow last checked:
Listing updated:
Listed by:
Cottage & Co Real Estate
Bought with:
Portside Real Estate Group
Source: Maine Listings,MLS#: 1661201
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Baseboard, Zoned, Space Heater
Cooling
- None
Features
- Bathtub, One-Floor Living
- Flooring: Carpet, Vinyl, Luxury Vinyl
- Windows: Double Pane Windows
Interior area
- Total structure area: 3,812
- Total interior livable area: 3,812 sqft
- Finished area above ground: 3,812
- Finished area below ground: 0
Property
Parking
- Parking features: Common, Paved, 5 - 10 Spaces, On Site
Lot
- Size: 0.28 Acres
- Features: Near Country Club, Near Public Beach, Near Town, Neighborhood, Suburban, Corner Lot, Level, Open Lot
Details
- Additional structures: Shed(s)
- Parcel number: SPORM005L098
- Zoning: G
- Other equipment: Cable, Internet Access Available
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Split Level
- Property subtype: Multi Family
Materials
- Wood Frame, Aluminum Siding
- Foundation: Poured Concrete
- Roof: Pitched,Shingle
Condition
- Year built: 1970
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Utilities On
Community & neighborhood
Location
- Region: South Portland
Other
Other facts
- Listing terms: 1031 Exchange
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 6/11/2026 | Sold | $1,140,000-4.6%$299/sqft |
Source:  Maine Listings #1661201 Report a problem | ||
| 5/15/2026 | Pending sale | $1,195,000$313/sqft |
Source: Maine Listings #1661201 Report a problem | ||
| 5/8/2026 | Listed for sale | $1,195,000+49.4%$313/sqft |
Source: Maine Listings #1661201 Report a problem | ||
| 12/1/2020 | Sold | $800,000-11%$210/sqft |
Source: Maine Listings #1462505 Report a problem | ||
| 9/15/2020 | Price change | $899,000-5.4%$236/sqft |
Source: Maine Custom Realty #1462505 Report a problem | ||
| 7/30/2020 | Listed for sale | $949,900$249/sqft |
Source: Maine Custom Realty #1462505 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $11,334 +3.7% | $858,600 +11.1% |
| 2023 | $10,926 -3.6% | $772,700 +6.1% |
| 2022 | $11,329 +73.5% | $728,100 +120.2% |
| 2020 | $6,529 +3.4% | $330,600 |
| 2019 | $6,314 +3.2% | $330,600 |
| 2018 | $6,116 +2.8% | $330,600 |
| 2017 | $5,951 +1.7% | $330,600 |
| 2016 | $5,852 +1.7% | $330,600 |
| 2015 | $5,752 +1.8% | $330,600 |
| 2014 | $5,653 +2.4% | $330,600 |
| 2013 | $5,521 +1.2% | $330,600 |
| 2012 | $5,455 +2.5% | $330,600 |
| 2011 | $5,323 +5.9% | $330,600 -3.3% |
| 2009 | $5,027 -0.3% | $342,000 -5% |
| 2008 | $5,040 +6.9% | $360,000 |
| 2006 | $4,716 | $360,000 |
Find assessor info on the county website
Neighborhood: 04106
Nearby schools
GreatSchools rating
- 9/10Dora L Small Elementary SchoolGrades: K-4Distance: 0.2 mi
- 7/10Daniel F. Mahoney Middle SchoolGrades: 5-8Distance: 1.2 mi
- 6/10South Portland High SchoolGrades: 9-12Distance: 2.4 mi
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$1,140,600
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+$22,812
With Zillow Showcase(estimated)
$1,163,412
- Maine
- Cumberland County
- South Portland
- 04106
- 238 Preble Street
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