Portland, ME 04101 55 Sherman Street
$1,550,000
Pending
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83 more
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Presented By: Coldwell Banker Realty; 207-773-1990
Home Details
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.
Presented By: Coldwell Banker Realty; 207-773-1990
Interior Features for 55 Sherman Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
BasementBrick/Mortar, Walk-Out Access, Unfinished
Basement (Y/N)No
Electric On Property Y/NNo
FlooringWood, Tile, Laminate, Carpet
Heating Y/NYes
General for 55 Sherman Street
Additional Parcels Y/NNo
Business TypeOther
Carport Y/NNo
CityPortland
Construction MaterialsVinyl Siding, Brick, Other, Masonry
CoolingNone
CountyCumberland
ElectricCircuit Breakers
Garage Y/NNo
HeatingRadiator
Home Owner Assoc:No
Interior FeaturesStorage
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet11325.6
Lot Size UnitsAcres
MobileHomeRemainsYNNo
New ConstructionNo
Property SubTypeMulti Family
Property TypeCommercial Sale
Rent Control Y/NNo
RoofShingle
Senior CommunityNone
SewerPublic Sewer
Standard StatusPending
StatusPending
Tax Annual Amount10093.0
Tax Lot22
Tax Year2023
View Y/NNo
Waterfront Y/NNo
Year Built1910
ZoningR6
Exterior for 55 Sherman Street
Building Area Total6104.0
Crops Included Y/NNo
Foundation DetailsPillar/Post/Pier, Brick/Mortar
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.26
Lot Size Area0.26
Open Parking Y/NNo
Other EquipmentInternet Access Available, Cable
Parking FeaturesReserved, 5 - 10 Spaces, On Site, Off Street
Water SourcePublic
Additional Details
Price History
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Jon Mercier
Designated Broker/ Realtor®