280 Lincoln Street, South Portland, ME 04106 (MLS# 1599566)

280 Lincoln Street, South Portland, ME 04106

$1,400,000
Property Type: Multi-Family Baths: 7 Square Footage: 9,854 Lot Size (sq. ft.): 30,056 Status: Closed
Current Price: $1,400,000 List Date: 8/07/2024 Last Modified: 2/05/2025

Description

Located in South Portland's Ligonia neighborhood, this is a unique opportunity to purchase a turnkey 7-unit residential apartment building and a 5,582 SF flex building, currently with 7-commercial tenants. The apartment building is in great condition, with many renovated units, two newer boilers, a brand-new deck, fresh paint and replacement windows. The flex building is divided into 7 studios/workshops, currently occupied by long term artists and ''maker'' tenants on an at-will basis. The owner occupies one of the commercial units as a workshop and can either remain as a tenant or vacate for a new owner. This property is ideal as a fully occupied investment or for an owner-user seeking shop space while offsetting occupancy costs with rental income.

Supplements: ********

More Information MLS# 1599566

Location Information

Street #: 280 Street Name: Lincoln Street Type: Street County: Cumberland Town: South Portland State/Province: ME Zip Code: 04106 Zip +4: 3534 Leased Land: No Book: 60158 Page: 0140 Map: 032 Lot: 106 Zoning: A Zoning Overlay: No Association: No Full Tax Amount $: 13892 Tax Year: 2024 Geo Lat: 43.633326 Geo Lon: -70.283253

Contract Information

Status: Closed Original List Price: 1575000 Sold Price: $1,400,000 Current Price: $1,400,000

Property Information

Surveyed: No Seasonal: No Number of Units: 14 Total Baths: 7 Total Full Baths: 7 Year Built: 1900 SqFt Finished Above Grade: 9854 SqFt Finished Total: 9854 SqFt Source: Public Records Garage: No Lot Size Acres +/-: 0.69 Source of Acreage: Public Records

Status Change Info

Pending Date: 2024-11-04 Closed Date: 2025-01-31 Closed Price: 1400000

Water Info

Water Frontage: No Water View: No

Units

# of 1 BD Units: 12 # of 2 BD Units: 2

Unit 1

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1275 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: No Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 2

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1200 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 3

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 4

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1300 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Water: Yes

Unit 5

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1200 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 6

Lease: No Level: Second Security Deposit: No # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1300 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 650 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 9

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 975 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 10

Lease: Yes Level: Second Security Deposit: Yes # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 11

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 650 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 12

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 350 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 13

Lease: No Level: First Security Deposit: No # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 14

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 800 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: pcloutier@nea.cc

Property Features

Site: Level; Open Location: Near Town; Near Turnpike/Interstate Roads: Paved; Public Style: Other Levels: Multi-Level Construction: Wood Frame Basement: Unfinished Basement Entry: Interior Exterior: Clapboard; Vinyl Siding; Wood Siding Roof: Flat; Shingle Heat System: Baseboard Heat Fuel: Gas Natural Water Heater: Off Heating System Cooling: None Floors: Concrete; Laminate Driveway: Gravel; Paved Parking: 11 - 20 Spaces Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - At Street Sewer: Public Sewer Water: Public

Documents

Listing Office: Vitalius Real Estate Group, LLC
Last Updated: February - 05 - 2025
280 Lincoln Street, South Portland, ME 04106- MLS# 1599566
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
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