850 Washington Ave - Apartments FOR SALE


Portland, ME 04103- Back Cove
$849,000 USD
207-766-8370
850 Washington Ave, Portland, ME for Sale
$849,000 USD
Apartments - FOR SALE
1/48
null | 6.49% Cap Rate

850 Washington Ave
Portland, ME 04103
Back Cove


HIGHLIGHTS

  • Renovated two-unit multifamily property
  • Two spacious 2-bedroom apartments
  • Situated on over 0.50 acres in Portland
  • Detached 2-car garage
  • Ample off-street parking
  • Large backyard with future potential

OVERVIEW

Opportunity, flexibility, and location come together at 850 Washington Avenue, a beautifully renovated two-unit property in one of Portland's most exciting growth corridors. Situated on over half an acre, this turnkey investment features two spacious 2-bedroom units, a detached 2-car garage, abundant off-street parking, and an expansive backyard, an increasingly rare find within the city. Both units have been thoughtfully updated with timeless finishes including white cabinetry, granite countertops, updated appliances, stylish bathrooms, and in-unit laundry. Separate gas and electric meters, along with newer boilers, make ownership and management simple and efficient. Whether you're an investor seeking a strong addition to your portfolio, an owner-occupant looking to offset your mortgage with rental income, or a parent searching for housing near Portland's rapidly growing educational and innovation district, this property offers exceptional versatility. Located just minutes from Downtown Portland, Back Cove, Payson Park, Tipo, Monte's Fine Foods, and countless local amenities, the property also benefits from its proximity to the Roux Institute and the transformative investment occurring throughout the surrounding neighborhood. As Portland continues to emerge as a hub for technology, research, education, and entrepreneurship, demand for housing in this area is expected to remain strong. Live in one unit and rent the other. Add a turnkey asset to your investment portfolio. Secure housing for a student, researcher, or professional while building equity in one of Portland's most desirable markets. With updated interiors, strong rental appeal, a large lot, garage parking, and an unbeatable location, 850 Washington Avenue presents an opportunity that is becoming increasingly difficult to find in Portland. A smart investment today--and an exciting opportunity for tomorrow! GROUP SHOWINGS TUES/THURS 1-2 PM

FOR SALE DETAILS

PRICE

$849,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

2

PRICE/UNIT

$424,500

CAP RATE

6.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

850 Washington Avenue | Renovated Duplex Near

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1864

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

RN-3

APN/PARCEL ID

PTLD-000170-000000-B018001

ASK ABOUT THIS PROPERTY

Andrea PageKeller Williams Maine RealtyMore Info
207-766-8370

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Andrea PageKeller Williams Maine RealtyMore Info
207-766-8370

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.