NOT LISTED FOR SALE

531 & 535 Cumberland Ave Portland, ME 04101

Parkside Neighborhood
-- Bed
12 Baths
7,720 Sq Ft
0.25 Acres

Last Sold March 15, 2023

Last sale price $1,900,000 $246 Per Sq Ft

14 Days on Market

Highlights

  • 0.25 Acre Lot
  • Property is near public transit
  • New Englander Architecture
  • Deck
  • Wood Flooring
  • 3-minute walk to Deering Oaks Park

About This Home

As of March 2023

Excellent Condition 2-Building apartment complex with ample parking on the edge of Portland's West End. 531 Cumberland is a 5-unit building comprised of a large first-floor 3 bedroom unit and four 1-bedroom units on the upper levels. 535 Cumberland is a 7-unit building with seven 1-bedroom units., storage lockers and laundry room. Large parking lot with 16 spaces. Rarely does a property come on the market this well maintained. Current owner has replaced roofs, boilers and windows, as well as remodeled most apartments and hallways. Units are full of historic charm including original wood floors and moldings, stairwells, etc. Excellent peninsula location within walking distance to the Congress Street corridor, Maine Med, Deering Oaks Park and even the Old Port. Also Listed Commercial MLS# 1543025

Last Agent to Sell the Property

Jeffrey Davis

Town & Shore Real Estate Listed on: 12/27/2022

Last Buyer's Agent

Jessica Wallimann

Vitalius Real Estate Group, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,142

Year Built

  • Built in 1910

Lot Details

  • 0.25 Acre Lot
  • Level Lot

Home Design

  • New Englander Architecture
  • Victorian Architecture
  • Brick Foundation
  • Stone Foundation
  • Wood Frame Construction
  • Pitched Roof
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 12 Full Bathrooms
  • 3-Story Property
  • 1 Fireplace
  • Double Pane Windows

Flooring

  • Wood
  • Carpet
  • Tile

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Interior and Exterior Basement Entry

Parking

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

Outdoor Features

  • Deck

Location

  • Property is near public transit
  • City Lot

Utilities

  • No Cooling
  • Heating System Uses Natural Gas
  • Heating System Uses Steam
  • Internet Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot E22, E23
  • Assessor Parcel Number PTLD-000048-E000023-000001

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Amenities

  • Coin Laundry

Building Details

  • Operating Expense $48,690
  • Gross Income $174,204

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,142

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.25
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Directions: Cumberland Ave to #531 - #535 on the block between Mellen and Deering Streets
  • Above Grade Finished Sq Ft: 6868.0
  • Architectural Style: New Englander, Victorian
  • Garage Yn: No
  • Efficiency: Double Pane Windows
  • Building Stories: 3
  • Year Built: 1910
  • Location Information:Leased Land: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.25
  • Property Information:Total Baths: 12.0
  • Property Information:SqFt Finished Above Grade: 6868.0
  • Property Information:SqFt Finished Below Grade: 852.0
  • Property Information:Garage: No
  • Site:Level: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Percent Basement Finished: Yes
  • Basement:Walkout Access: Yes
  • Roof:Shingle: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Tile2: Yes
  • Floors:Wood3: Yes
  • Parking:Off Street: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Basement Entry:Interior: Yes
  • Basement Entry:Walk-Out: Yes
  • Exterior:Vinyl Siding: Yes
  • Gas:Natural - On Site: Yes
  • Basement:Unfinished: Yes
  • Heat Fuel:Gas Natural: Yes
  • Property Information:Number of Units: 12
  • Foundation Materials:BrickMortar2: Yes
  • Foundation Materials:Stone: Yes
  • Building Info:_pound_ Stories2: 3
  • Income Expenses Gross Income: 174204.0
  • Income Expenses Operating Expenses: 48690.0
  • Parking:On Site2: Yes
  • Heat System:Steam: Yes
  • Roof:Pitched: Yes
  • Building Info:_pound_ Fireplaces3: 1
  • Driveway:Gravel: Yes
  • Equipment:Internet Access Available: Yes
  • Equipment:Cable: Yes
  • Energy Efficiency:Double Pane Windows: Yes
  • Style:New Englander: Yes
  • Transportation:Public Transport Access: Yes
  • Building Info:_pound_ Floors3: 3
  • Amenities:Laundry - Coin: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Has Basement: Walk-Out Access, Finished, Full, Exterior Entry, Bulkhead, Interior Entry, Unfinished
  • Full Bathrooms: 12
  • Below Grade Sq Ft: 852.0
  • Fireplaces: 1
  • Fireplace: Yes
  • Flooring: Wood, Tile, Carpet
  • Stories: 3
  • Full Basement: Yes

Exterior Features

  • Lot Features: Level, Sidewalks, Intown, Near Public Transit
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Foundation Details: Stone, Brick/Mortar
  • Patio And Porch Features: Deck
  • Roof: Pitched, Shingle
  • Patio And Porch Features:Deck: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: 11 - 20 Spaces, Gravel, On Site, Off Street

Utilities

  • Laundry Features: Laundry - Coin
  • Cooling: None
  • Cooling Y N: No
  • Heating: Steam
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Pets Allowed: No Restrictions

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 10890.0
  • Parcel #: PTLD-000048-E000023-000001
  • Zoning: R6

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 174204.0
  • Annual Operating Expense: 48690.0

Tax Info

  • Tax Annual Amount: 24142.0
  • Tax Book Number: 17526
  • Tax Lot: E22, E23
  • Tax Map Number: 48
  • 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
03/15/2023 03/15/23 Sold $1,900,000 -9.5% $246 / Sq Ft
11/14/2022 11/14/22 For Sale $2,100,000 0.0% $272 / Sq Ft
09/28/2022 09/28/22 Pending -- -- --
09/13/2022 09/13/22 For Sale $2,100,000 -- $272 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jeffrey Davis

    Seller's Agent in 2023

    Jeffrey Davis

    Town & Shore Real Estate

    (207) 233-9423

    5 in this area

    155 Total Sales

    Section Image
  • Jessica Wallimann

    Buyer's Agent in 2023

    Jessica Wallimann

    Vitalius Real Estate Group, LLC

    (207) 939-6832

    6 in this area

    160 Total Sales

    Section Image
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Map

Source: Maine Listings

MLS Number: 1542944

Maine Listings

APN: PTLD M:048 B:E022001

Maine Cumberland County Portland 04101 Parkside

531 & 535 Cumberland Ave, Portland, ME

This home is located at 531 & 535 Cumberland Ave, Portland, ME 04101 since 27 December 2022. This property was built in 1910. 531 & 535 Cumberland Ave is a home located in Cumberland County with nearby schools including Reiche Community School, King Middle School, and Baxter Academy for Tech & Sciences.

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