50 Alder ST Active Save Request In-Person Tour Request Virtual Tour
Portland,ME 04101
Key Details
Property Type Multi-Family
Listing Status Active
Square Footage 3,653 sqft
Price per Sqft $195
MLS Listing ID 1630079
Style Colonial
Full Baths 3
Year Built 1850
Annual Tax Amount $9,848
Tax Year 2024
Lot Size 5,662 Sqft
Property Description
Be part of Bayside's exciting transformation—one of Portland's fastest redeveloping neighborhoods. This spacious, move-in ready duplex sits in the heart of the Peninsula within the dynamic B2b business zone, offering both immediate cash flow and long-term upside. The detached garage includes a workshop—pefect for a creative or trade business—and off-street parking adds daily convenience. City-assessed at $823,000, this duplex represents a strategic opportunity for both homeowners and investors. Just steps to Bayside Bowl and minutes to Trader Joe's, Whole Foods, the Old Port, and the Arts District—this location has a Walk Score of 98. The seller paid for an inspection and has been addressing issues in the summary of concerns. The inspection report is available upon request. This duplex is currently financed with an FHA loan and should be able to be financed with any type of mortgage. Unit #50 features 4 bedrooms, 2 bathrooms and generous living space, while Unit #48 offers 3 bedrooms with approximately 455 sq ft of additional unheated bonus space—perfect for future expansion with added heat and finish (with permits). There's even potential to improve Unit #48 into a 4-bedroom, 2-bath apartment by adding a first-floor primary with ensuite bathroom. Based on floor plan measurements, the gross living area is significantly larger than tax records reflect—approximately 3,936 sq ft total (1,354 in #48 and 2,582 in #50). With permits, there may also be potential to add a third unit within the existing footprint. The property sits on a 6,076 sq ft lot in the B2b zone, which allows for medium-scale mixed-use and multifamily development. Zoning permits up to 13 residential units by right (buyer to verify with the city).
Location
State ME
County Cumberland
Zoning B2b
Interior
Heating Wood Stove,Hot Water,Baseboard
Cooling None
Flooring Wood,Tile,Carpet
Laundry Laundry - 1st Floor,Main Level
Exterior
Parking Features 1 - 4 Spaces,Paved
Garage Spaces 2.0
View Y/N No
Roof Type Shingle
Building
Lot Description Level,Intown
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Structure Type Vertical Siding,Wood Frame
Schools
School District Portland Public Schools
Others
Virtual Tour https://www.youtube.com/watch?v=yoYZbAkV1Og