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33432650
33432651

850 WASHINGTON AVE, PORTLAND, ME 04103

AP
BR925750
KW Commercial Greater Portland
Listed by KW Commercial Greater Portland
$849,000
4 days on market
Updated 4 days ago

850 WASHINGTON AVE PORTLAND ME 04103

Details
APN PTLD M:170 B:B018001
Property Type Multifamily
Sub Type Student Housing, Single Family Rental Portfolio (+1)
Square Footage 2,184
Units 4
NOI $55,106
Tenancy Multi
Year Built 1864
Year Renovated 2023, 2024
Buildings 1
Stories 2
Acreage 0.530
Zoning RN-3
Parking Spaces spaces
Investment Type Stabilized

Turnkey Two-Unit Near Downtown Portland & the Roux Institute

Marketing description

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

Investment highlights

Fully Renovated Two-Unit Property

Two Spacious 2-Bedroom Apartments

Separate Gas & Electric Meters

Newer, Efficient Heating Systems

Detached 2-Car Garage

Over ½ Acre Lot with Ample Off-Street Parking

Strong Owner-Occupant or Investment Opportunity

Proximity to the Roux Institute & Portland's Innovation District

Minutes to Downtown Portland, Back Cove & Payson Park

Turnkey Asset with Immediate Rental Income Potential

Rare Large-Lot Multifamily Opportunity Within Portland

Positioned in a High-Growth Neighborhood with Long-Term Upside

Turnkey, Income-Producing Duplex

Fully Renovated Units with Modern Finishes

Separate Utilities Reduce Operating Expenses

Strong Rental Demand Near the Roux Institute & Downtown Portland

Listing Contacts

AP
BR925750
KW Commercial Greater Portland
Listed by KW Commercial Greater Portland

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$55,106.00
$4,592.17/mo

Valuation Metrics

0
DSCR
6.49%
Cap Rate
6.49%
ROI

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