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32776598
32776599

63-69 Morning Street, Portland, ME 04101

CS
ME BR918132
Vitalius Real Estate Group
Vitalius Real Estate Group
Vitalius Real Estate Group
Listed by Vitalius Real Estate Group
$2,690,000
17 days on market
Updated 17 days ago

63-69 Morning Street

Details
Property Type Multifamily
Square Footage 6,283
Units 5
Cap Rate 3.14%
NOI $84,552
Tenancy Multi
Year Built 0
Buildings 2
Acreage 0.167
Parking Spaces 5 spaces
Parking Per SqFt 0.80
Investment Type Stabilized

Multifamily | 3.14% CAP | 5 Units

Marketing description

A truly rare find: 5-unit building one door from the Eastern Promenade, with the kind of bones and flexibility that almost never come to market together.

The main residence at 69 Morning Street, a Colonial Revival built in 1922, is the original house and features three thoughtfully maintained units rich with preserved architectural detail and tasteful updates. Two one-bedroom units anchor the first floor, while the upper residence spans 3+ bedrooms, two baths, enclosed decks, and sweeping Casco Bay views from the third floor. Connected at 63 Morning Street, an adjoining 2-unit addition was constructed in 1987 and presents multiple possibilities: retain the existing layout as a straightforward income-producing property, or reimagine it entirely - chef's kitchen, bay-facing windows, a proper primary suite - the layout is a genuine blank canvas.

With five off-street parking spaces, two garage bays, and exceptional versatility in one of Portland's most desirable neighborhoods, this property presents a unique opportunity for investors, owner-occupants, or those seeking a multigenerational compound in the heart of the Eastern Promenade.

Investment highlights

  • Lot Size: 0.1667+/- acres
  • 6,283+/- SF Living Area
  • Year Built: 1915
  • Seller Purchased in 2014
  • MLS#1662865

Listing Contacts

CS
ME BR918132
Vitalius Real Estate Group
Vitalius Real Estate Group
Vitalius Real Estate Group
Listed by Vitalius Real Estate Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$84,552.00
$7,046.00/mo

Valuation Metrics

0
DSCR
3.14%
Cap Rate
3.14%
ROI

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