Bought with Malone Commercial Brokers, Inc.
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317-319 Valley ST Portland, ME 04102
SOLD DATE : 12/15/2023Want to know what your home might be worth? Contact us for a FREE valuation!
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Key Details
Sold Price $930,000
Property Type Multi-Family
Listing Status Sold
Square Footage 3,450 sqft
MLS Listing ID 1573930
Sold Date 12/15/23
Style Multi-Level
Full Baths 4
Half Baths 2
HOA Y/N No
Abv Grd Liv Area 3,450
Originating Board Maine Listings
Year Built 1911
Annual Tax Amount $10,862
Tax Year 2023
Lot Size 3,484 Sqft
Acres 0.08
Property Description
Incredible turnkey Triplex with strong cash flow (114K+ income), perfect for Investment or owner occupancy. This updated property with many recent improvements is conveniently situated in downtown Portland with easy access to Maine Med, restaurants, shopping, and much more.
This low-maintenance updated building offers spacious 3 apartments, two are 4 bedroom, 1.5 bath and third floor unit features 5 bedrooms and 2 full bathrooms. The financials for this property are outstanding, with projected yearly profit of $94K+. Alternatively, an owner could choose to reside in one of the apartments while renting out the others to cover most of the mortgage.
With a low maintenance updated units with 3 great tenants, small rear yard, three deeded off street parking spots, fantastic rental income, and downtown location, this is a rare opportunity that should not be missed.
Investors take notice, Seller is offering 2 turnkey cash flowing downtown properties with 147K+ NOI rare 9.2+% cap rate. Great to make more income from less tenants
Location
State ME
County Cumberland
Zoning B2
Rooms
Basement Dirt Floor, Full, Interior Entry, Unfinished
Interior
Interior Features 1st Floor Bedroom
Heating Multi-Zones, Hot Water, Forced Air, Direct Vent Furnace, Baseboard
Cooling None
Flooring Wood, Tile, Laminate
Laundry Washer Hookup
Exterior
Parking Features 1 - 4 Spaces, Paved, Common, Off Street
Utilities Available 1
View Y/N No
Roof Type Membrane
Street Surface Paved
Garage No
Building
Lot Description Level, Sidewalks, Interior Lot, Near Shopping, Near Town, Near Public Transit, Near Railroad
Story 3
Foundation Concrete Perimeter, Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Multi-Level
Structure Type Vinyl Siding,Clapboard,Wood Frame
Others
Restrictions Unknown
Energy Description Gas Natural
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