NOT LISTED FOR SALE

245 Preble St South Portland, ME 04106

Willard Neighborhood
-- Bed
6 Baths
4,146 Sq Ft
0.33 Acres

Last Sold December 20, 2023

Last sale price $1,230,000 $297 Per Sq Ft

42 Days on Market

Highlights

  • Nearby Water Access
  • Country Club
  • 0.33 Acre Lot
  • Public Beach
  • View of Trees or Woods
  • Deck

About This Home

As of December 2023

Few locations rival Willard for desirability, walkability, bikeability and rentability and this rare 6 unit sits right in the middle. Located a short distance from everything that makes this location soooo livable, from shops and schools, playgrounds and park and of course Willard Beach, this quality multi is priced for immediate sale. The exterior is low maintenance with lots of updates, lots of parking, lots of decks and lots of light. Inside 5 of the 6 units are updated with separate utilities and 5 of 6 tenants paying all utilities (except water/waste water) Rents are well below market with plenty of room to significantly increase. As an alternative to long term rents this property and location are ideal for short term and income maximization. $70K of NOI and a 7 CAP make this a rare cash flow investment day one. ONLY showings (open to agents and buyers with no appointment needed) 10/26, 27, 30, 31 from 12-2. Offers due and reviewed 10/31 @ 3PM

Last Agent to Sell the Property

Tom Landry

Benchmark Real Estate Listed on: 10/24/2023

Last Buyer's Agent

Frank Hennings

Coldwell Banker Realty

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,670

Year Built

  • Built in 1850

Lot Details

  • 0.33 Acre Lot
  • Public Beach
  • Landscaped
  • Level Lot
  • Open Lot
  • Wooded Lot

Home Design

  • New Englander Architecture
  • Brick Foundation
  • Concrete Foundation
  • Stone Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,146 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Views of Woods
  • Washer and Dryer Hookup

Flooring

  • Wood
  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 6 Full Bathrooms
  • Bathtub
  • Shower Only

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Sump Pump

Parking

  • Gravel Driveway
  • On-Site Parking
  • Off-Street Parking
  • Reserved Parking

Eco-Friendly Details

  • ENERGY STAR/CFL/LED Lights

Outdoor Features

  • Nearby Water Access
  • Deck
  • Shed

Location

  • Property is near public transit
  • Property is near a golf course
  • Suburban Location

Utilities

  • No Cooling
  • Space Heater
  • Heating System Uses Natural Gas
  • Heating System Mounted To A Wall or Window
  • Gas Water Heater
  • Internet Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 204
  • Assessor Parcel Number SPOR-000002-000000-000204

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Amenities

  • Community Storage Space

Recreation

  • Country Club

Building Details

  • Operating Expense $23,926
  • Gross Income $92,856

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,670

Year Built

Built in 1850

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.33
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Directions: Broadway Street to Preble Street (close to SMCC, Spring Point Marina, Scratch Baking, Willard Square/Beach)
  • Above Grade Finished Sq Ft: 4146.0
  • Architectural Style: New Englander
  • Garage Yn: No
  • Efficiency: LED Light Fixtures, Ceiling Fans
  • Year Built: 1850
  • Location Information:Leased Land: No
  • Property Information:Lot Size Acres -: 0.33
  • Property Information:Total Baths: 6.0
  • Property Information:SqFt Finished Above Grade: 4146.0
  • Property Information:Garage: No
  • Site:Level: Yes
  • Site:Open: Yes
  • Site:Well Landscaped: Yes
  • Location:Near Golf Course: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Basement:Walkout Access: Yes
  • Roof:Shingle: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Vinyl: Yes
  • Floors:Wood3: Yes
  • Parking:Off Street: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Basement Entry:Walk-Out: Yes
  • Water Heater:Gas: Yes
  • Amenities:Storage: Yes
  • Exterior:Vinyl Siding: Yes
  • Heat Fuel:Electric: Yes
  • Gas:Natural - On Site: Yes
  • Amenities:Laundry - Hookup: Yes
  • Amenities:One-Floor Living: Yes
  • Amenities:Shower: Yes
  • Basement:Unfinished: Yes
  • Foundation Materials:Poured Concrete: Yes
  • Heat Fuel:Gas Natural: Yes
  • Floors:Laminate: Yes
  • Location:Suburban: Yes
  • Property Information:Number of Units: 6
  • Foundation Materials:BrickMortar2: Yes
  • Foundation Materials:Stone: Yes
  • Income Expenses Gross Income: 92856.0
  • Income Expenses Operating Expenses: 23926.0
  • Parking:On Site2: Yes
  • Location:Near Public Beach: Yes
  • Amenities:Bathtub: Yes
  • Recreational Water:Nearby: Yes
  • Driveway:Gravel: Yes
  • Site:Wooded: Yes
  • View:TreesWoods: Yes
  • Equipment:Cable: Yes
  • Energy Efficiency:Ceiling Fans: Yes
  • Location:Near Country Club: Yes
  • Heat System:Direct Vent Heater: Yes
  • Basement:Sump Pump: Yes
  • Heat System:Space Heater: Yes
  • Location:Near Railroad: Yes
  • Style:New Englander: Yes
  • Transportation:Public Transport Access: Yes
  • Energy Efficiency:LED Light Fixtures: Yes
  • Other Structures:Shed: Yes
  • Parking Reserved2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Has Basement: Walk-Out Access, Full, Sump Pump, Unfinished
  • Full Bathrooms: 6
  • Flooring: Wood, Vinyl, Laminate, Carpet
  • Interior Amenities: 1st Floor Bedroom, Bathtub, One-Floor Living, Other, Pantry, Shower, Storage
  • Full Basement: Yes

Exterior Features

  • Lot Features: Level, Open Lot, Sidewalks, Landscaped, Wooded, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town, Neighborhood, Suburban, Near Public Transit, Near Railroad
  • View: Trees/Woods
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Foundation Details: Stone, Concrete Perimeter, Brick/Mortar
  • Other Structures: Shed(s)
  • Patio And Porch Features: Deck
  • Roof: Shingle
  • Patio And Porch Features:Deck: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: 5 - 10 Spaces, Gravel, On Site, Off Street

Utilities

  • Laundry Features: Washer Hookup
  • Cooling: None
  • Cooling Y N: No
  • Heating: Space Heater, Direct Vent Heater
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 14374.8
  • Parcel #: SPOR-000002-000000-000204
  • Zoning: G

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 92856.0
  • Annual Operating Expense: 23926.0

Tax Info

  • Tax Annual Amount: 11670.0
  • Tax Book Number: 12584
  • Tax Lot: 204
  • Tax Map Number: 2
  • Tax Year: 2022

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2023 12/20/23 Sold $1,230,000 +23.1% $297 / Sq Ft
12/05/2023 12/05/23 Pending -- -- --
10/24/2023 10/24/23 For Sale $999,000 -- $241 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tom Landry

    Seller's Agent in 2023

    Tom Landry

    Benchmark Real Estate

    (207) 775-0248

    3 in this area

    329 Total Sales

    Tom Landry
    Section Image
  • Frank Hennings

    Buyer's Agent in 2023

    Frank Hennings

    Coldwell Banker Realty

    (207) 671-9985

    1 in this area

    47 Total Sales

    Frank Hennings
    Section Image
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Map

Source: Maine Listings

MLS Number: 1575681

Maine Listings

Maine Cumberland County South Portland 04106 Willard

245 Preble St, South Portland, ME

This home is located at 245 Preble St, South Portland, ME 04106 since 24 October 2023. This property was built in 1850. 245 Preble St is a home located in Cumberland County with nearby schools including Dora L. Small Elementary School, Daniel F. Mahoney Middle School, and South Portland High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Maine Listings Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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