41 Chestnut Street, Portland, ME 04101 (MLS# 1520688)

41 Chestnut Street, Portland, ME 04101

$3,150,000
Property Type: Multi-Family Baths: 16 Square Footage: 15,620 Lot Size (sq. ft.): 4,356 Status: Closed
Current Price: $3,150,000 List Date: 3/01/2022 Last Modified: 1/11/2025

Description

- 16 exempt, value-add units for sale on Portland's peninsula. - Exempt from City of Portland Rental Control Ordinance - Multi-Family building comprised of 16 units totaling 12,496± SF - Spacious and efficient layout, all units with three-bedrooms on 4-stories - Exceptional cash-flow opportunity at an opportune time to invest in a growing neighborhood on Portland's peninsula - Professionally managed building protected by code-compliant, centrally monitored alarm and sprinkler system - Walkable to Old Port, Downtown Business District District and Whole Foods/Bayside Area - Projected Cap Rate: 9.22% - Sale Price: $2,995,000

Supplements: ********

More Information MLS# 1520688

Location Information

Street #: 41 Street Name: Chestnut Street Type: Street County: Cumberland Town: Portland State/Province: ME Zip Code: 04101 Zip +4: 3096 Leased Land: No Book: 31608 Page: 317 Map: 26 Lot: F13 Zoning: R6 Zoning Overlay: No Association: No Full Tax Amount $: 32244 Tax Year: 2021 Geo Lat: 43.660089 Geo Lon: -70.258748

Contract Information

Status: Closed Original List Price: 2995000 Sold Price: $3,150,000 Current Price: $3,150,000

Property Information

Surveyed: Yes Seasonal: No Owner Occupied: No Deed/Conveyance Type Offered: Quit Claim w/Covenant Deed: All Deed Restrictions: Unknown Bank Owned REO: No 2 Detached Houses on 1 Lot: No Number of Units: 16 Total Baths: 16 Total Full Baths: 16 Color: Grey Year Built: 1900 SqFt Finished Above Grade: 12496 SqFt Finished Below Grade: 3124 SqFt Finished Total: 15620 SqFt Source: Public Records Garage: No Lot Size Acres +/-: 0.1 Source of Acreage: Public Records Road Frontage: Yes Road Frontage +/-: 62 Source of Road Frontage: Other Road Front Other Source: Google Map

Status Change Info

Pending Date: 2022-03-14 Closed Date: 2022-06-16 Closed Price: 3150000

Water Info

Water Frontage: No Water View: Yes Water Body Name: Casco Bay Island: No

Building Info

# Stories: 4 # Floors: 4

Units

# of 3 BD Units: 16

Unit 1

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1887 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes 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: 2096 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 3

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1596 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes 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: 2096 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Water: Yes

Unit 5

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1650 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 6

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1887 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 2096 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1887 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1498 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 10

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1498 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 11

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1498 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 12

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1887 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: No Sewer: Yes Water: Yes

Unit 13

Lease: Yes Level: Upper Security Deposit: Yes Monthly Rent: 2183 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 14

Lease: Yes Level: Four + Security Deposit: Yes Monthly Rent: 2183 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 15

Lease: Yes Level: Four + Security Deposit: Yes Monthly Rent: 1498 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 16

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 1887 # Full Baths: 1 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: michelle@mainelandconsultants.com

Property Features

Site: Level Location: Intown; Neighborhood Roads: Paved Water Body Type: Cove Style: Other Levels: Multi-Level Construction: Wood Frame Basement: Daylight; Full; Slab; Walk-Out Access Foundation Materials: Brick/Mortar Exterior: Aluminum Siding Roof: Flat; Membrane Heat System: Baseboard Heat Fuel: Gas Natural Water Heater: Gas Cooling: None Floors: Carpet; Vinyl; Wood Amenities: Sprinkler Driveway: Paved Parking: 1 - 4 Spaces Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

Listing Office: Porta & Company
Last Updated: January - 11 - 2025
41 Chestnut Street, Portland, ME 04101- MLS# 1520688
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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