55 Sherman Street Portland, ME 04101
Listing Courtesy of: MAINE LISTINGS - IDX / Coldwell Banker Realty / Katherine Murray - Contact:  207-773-1990

  55 Sherman Street Portland, ME 04101

Pending (152 Days)
$1,550,000
8
BATH
6,104
SQFT

Description

This classic Portland building offers a blend of historic charm and modern upgrades making this lovely 7 unit apartment building a rare find in the Portland market. Ideal for investors or an owner occupied opportunity which provides stability, growth potential, and minimal future maintenance. The first floor apartment is a spacious 2 bed, 2 full bath unit; living room with bay windows, a formal dining room, kitchen with pantry space, high ceilings & plenty of light throughout with nooks and crannies for clever storage spaces; currently owner occupied. An ideal situation to set the rent to current market or for the new owner to reside comfortably. All 7 apartments have updated flooring, appliances, new windows, updated lighting. Upgrades completed with durability in mind along w/ creative use of color & space to attract long-term residents.

Other updates include a new roof (2022) with a 50 year, twice transferrable warranty; updated NG boiler in the basement, LED light fixtures throughout building, line to the street main replaced with PVC as well as the plumbing lines under basement & stacks to the third floor. Radon removal system installed. The building has also been insulated to maximize energy savings including spray foam in the basement, insulation board under updated siding, insulation under new drywall in the back hallway & attic storage space completed this year. Fully fenced backyard for green space available for all to enjoy including canopy for sun shade, fire pit, grill and sitting swing. Coin-op washer and dryer for extra monthly cash. Ideal peninsula location with an amazing walkability score of 92 to restaurants, shops, bars & services. Highly desirable deeded parking spaces for 7 vehicles with no maintenance responsibilities. Excellent rental history and currently fully occupied. 55 Sherman Street has approved and recorded banked rents for the completed renovations available for use by the new owner.

MLS #:
1591157
Taxes
$10,093(2023)
Lot Size
0.26 acres
Type
Multifamily
Year Built
1910
Style
Mansard
County
Cumberland County

Listed By

Katherine "Kathy" Murray, Coldwell Banker Realty, Contact: 207-773-1990
Source
MAINE LISTINGS - IDX
Last checked Oct 30 2024 at 12:55 AM GMT+0000
Bathroom Details
  • Full Bathrooms: 8
Interior Features
  • Storage
  • Other
Lot Information
  • Near Public Transit
  • Neighborhood
  • Near Town
  • Near Shopping
  • Sidewalks
Property Features
  • Foundation: Brick/Mortar
  • Foundation: Pillar/Post/Pier
Heating and Cooling
  • Radiator
  • None
Basement Information
  • Unfinished
  • Interior Entry
  • Walk-Out Access
  • Brick/Mortar
Flooring
  • Carpet
  • Laminate
  • Tile
  • Wood
Exterior Features
  • Roof: Shingle
Utility Information
  • Utilities: Utilities on
  • Sewer: Public Sewer
Parking
  • Off Street
  • On Site
  • Leased
  • Concrete
  • 5 - 10 Spaces
Additional Information: Portland | 207-773-1990
Location
   
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