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The Scoville Foley Team

info@scovillefoleyhomes.com +1(207) 885-0500

Listed by Benchmark Real Estate

$ 2,250,000

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55-57-59 St Lawrence ST Portland, ME 04101

7 Baths

9,600 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Square Footage 9,600 sqft

Subdivision Munjoy Hill Neighborhood Conservation District

MLS Listing ID 1640137

Style Other

Full Baths 7

HOA Y/N No

Abv Grd Liv Area 9,600

Year Built 1915

Annual Tax Amount $18,906

Tax Year 2026

Lot Size 0.260 Acres

Acres 0.26

Source Maine Listings

Land Area 9600

Property Description

Rare opportunity in one of New England's most desirable coastal communities! Ideally located on a quiet street atop Portland's historic Munjoy Hill, this seven-unit multifamily includes a separate buildable lot — an extraordinary find in one of the city's most coveted RN4 (formerly R6) residential zones. Originally built as a classic double-triple, the property now offers seven well-maintained units with significant updates, modern life-safety systems, and individual utilities — each tenant pays their own heat, hot water, and electricity. The building has been carefully maintained, and rents have kept pace with the market, producing an NOI of ~ $107,000 and a healthy 5% cap rate with strong, consistent income. The real value lies in the adjoining buildable lot, capable of supporting 9 new residential units. Buildings in this zone may reach up to 45 feet in height, offering commanding ocean and city views. The property has already been surveyed, and preliminary civil engineering and lot division work have been completed and are available for review. From the upper floors of the existing structure — and any future development views of Casco Bay, the working waterfront and city skyline await, a rare perspective even on East End. Whether you're an investor seeking strong income with upside potential or a developer ready to capitalize on a premier site, this property checks every box. Showings: Friday, Monday, and Tuesday — October 10th, 13th, and 14th — from 12:00 PM to 2:00 PM. No appointment required; buyers and brokers welcome. Offers due Wednesday, October 15th at 5:00 PM.

Location

State ME

County Cumberland

Zoning RN-4

Body of Water Casco Bay

Rooms

Basement Interior, Bulkhead, Full, Unfinished

Interior

Interior Features 1st Floor Bedroom, Bathtub, One-Floor Living, Other, Pantry, Shower, Storage

Heating Direct Vent Heater

Cooling None

Flooring Wood, Vinyl, Tile, Laminate

Equipment Internet Access Available, Cable

Fireplace No

Laundry Washer Hookup, Laundry - Coin

Exterior

Parking Features 11 - 20 Spaces, Gravel, Paved, On Site

Fence Fenced

Utilities Available 1

View Y/N Yes

View Scenic

Roof Type Flat

Street Surface Paved

Porch Porch

Garage No

Building

Lot Description Rolling/Sloping, Level, Sidewalks, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Neighborhood, Near Public Transit, Near Railroad

Story 3

Foundation Stone, Brick/Mortar

Sewer Public Sewer

Water Public

Architectural Style Other

Structure Type Vinyl Siding,Wood Frame

Schools

School District Portland Public Schools

Others

Restrictions Unknown

Energy Description Gas Natural

The Scoville Foley Team

+1(207) 885-0500

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Scarborough, ME

The Scoville Foley Team

55-57-59 St Lawrence ST Portland, ME 04101

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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