Portland, ME 04101,55 Sherman ST
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Portland, ME 04101,55 Sherman ST
Portland, ME 04101,55 Sherman ST
Portland, ME 04101,55 Sherman ST
Portland, ME 04101,55 Sherman ST
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Listed by Coldwell Banker Realty • 207-773-1990
$ 1,550,000
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Pending

55 Sherman ST Portland, ME 04101

6,104 SqFt


UPDATED:

08/27/2024 06:21 PM

Key Details

Property Type Commercial Sale

Sub Type Multi Family

Listing Status Pending

Square Footage 6,104 sqft

MLS Listing ID 1593380

HOA Y/N No

Originating Board Maine Listings

Year Built 1910

Annual Tax Amount $10,093

Tax Year 2023

Lot Size 0.260 Acres

Acres 0.26

Property 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.

Location

State ME

County Cumberland

Zoning R6

Rooms

Basement Brick/Mortar, Walk-Out Access, Unfinished

Interior

Interior Features Storage

Heating Radiator

Cooling None

Flooring Wood, Tile, Laminate, Carpet

Equipment Internet Access Available, Cable

Exterior

Garage Reserved, 5 - 10 Spaces, On Site, Off Street

View Y/N No

Roof Type Shingle

Parking Type Reserved, 5 - 10 Spaces, On Site, Off Street

Building

Foundation Pillar/Post/Pier, Brick/Mortar

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding,Brick,Other,Masonry

Others

Energy Description Gas Natural


Maine MLS (MREIS) IDX

Cassie Mason

Broker | Bean Group016220

+1(207) 418-1560

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55 Sherman ST