Closed

$1,230,000

245 Preble Street, South Portland, ME 04106

8beds

4,146sqft

Multi Family

Built in 1850

-- sqft lot

$1,466,700 Zestimate^®

$297/sqft

$2,389 Estimated rent

Home value

$1,466,700

$1.33M - $1.64M

$2,389/mo

Zestimate^® history

Owner options

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$2,389/mo

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$2,389/mo

Rent Zestimate^®

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$6,205/mo

Est. payment

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$6,205/mo

Est. payment

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What's special

Lots of lightLots of parking

Few locations rival Willard for desirability, walkability, bikeability and rentability and this rare 6 unit sits right in the middle. Located a short distance from everything that makes this location soooo livable, from shops and schools, playgrounds and park and of course Willard Beach, this quality multi is priced for immediate sale. The exterior is low maintenance with lots of updates, lots of parking, lots of decks and lots of light. Inside 5 of the 6 units are updated with separate utilities and 5 of 6 tenants paying all utilities (except water/waste water) Rents are well below market with plenty of room to significantly increase. As an alternative to long term rents this property and location are ideal for short term and income maximization. $70K of NOI and a 7 CAP make this a rare cash flow investment day one. ONLY showings (open to agents and buyers with no appointment needed) 10/26, 27, 30, 31 from 12-2. Offers due and reviewed 10/31 @ 3PM

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 6
Full bathrooms: 6

Heating

Direct Vent Heater, Space Heater

Cooling

None

Features

1st Floor Bedroom, Bathtub, One-Floor Living, Pantry, Shower, Storage
Flooring: Carpet, Laminate, Vinyl, Wood
Basement: Walk-Out Access,Full,Sump Pump,Unfinished

Interior area

Total structure area: 4,146
Total interior livable area: 4,146 sqft
Finished area above ground: 4,146
Finished area below ground: 0

Property

Parking

Parking features: Gravel, 5 - 10 Spaces, On Site, Assigned, Off Street

Features

Patio & porch: Deck
Has view: Yes
View description: Trees/Woods

Lot

Size: 0.33 Acres
Features: Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town, Neighborhood, Suburban, Near Railroad, Level, Open Lot, Sidewalks, Landscaped, Wooded

Details

Additional structures: Shed(s)
Zoning: G
Other equipment: Cable, Internet Access Available

Construction

Type & style

Home type: MultiFamily
Architectural style: New Englander
Property subtype: Multi Family

Materials

Wood Frame, Vinyl Siding
Foundation: Stone, Brick/Mortar
Roof: Shingle

Condition

Year built: 1850

Utilities & green energy

Electric: Circuit Breakers
Sewer: Public Sewer
Water: Public
Utilities for property: Utilities On

Green energy

Energy efficient items: Ceiling Fans, LED Light Fixtures

Community & neighborhood

Location

Region: South Portland

Other

Other facts

Road surface type: Paved

Price history

Date	Event	Price
12/20/2023	Sold	$1,230,000+23.1%$297/sqft
Source: Maine Listings #1575681 Report a problem
12/5/2023	Pending sale	$999,000$241/sqft
Source: Maine Listings #1575681 Report a problem
11/6/2023	Contingent	$999,000$241/sqft
Source: Maine Listings #1575681 Report a problem
10/24/2023	Listed for sale	$999,000$241/sqft
Source: Maine Listings #1575681 Report a problem