50 Alder ST, Portland, ME 04101 - MLS#1630079 - Monet Yarnell

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Monet Yarnell

monet@sell207.com +1(207) 461-4740

Listed by EXP Realty

$715,000

3 Baths

3,653 SqFt

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Key Details

Property Type Multi-Family

Listing Status Active

Square Footage 3,653 sqft

MLS Listing ID 1630079

Style Colonial

Full Baths 3

HOA Y/N No

Abv Grd Liv Area 3,653

Year Built 1850

Annual Tax Amount $9,848

Tax Year 2024

Lot Size 5,662 Sqft

Acres 0.13

Source Maine Listings

Land Area 3653

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

Rooms

Basement Interior, Full, Unfinished

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

Street Surface Paved

Porch Porch

Garage Yes

Building

Lot Description Level, Intown

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Architectural Style Colonial

Structure Type Vertical Siding,Wood Frame

Schools

School District Portland Public Schools

Others

Energy Description Oil

Virtual Tour https://www.youtube.com/watch?v=yoYZbAkV1Og

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Phone

+1(207) 461-4740

monet@sell207.com

Address

111 High St, Belfast, ME

50 Alder ST Portland, ME 04101