NOT LISTED FOR SALE

62 Mellen St Portland, ME 04101

Parkside Neighborhood

Estimated Value: $1,506,946

-- Bed
12 Baths
8,831 Sq Ft
$171/Sq Ft Est. Value

Last Sold November 27, 2023

Last sale price $1,425,000 $161 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $9,677/month

60 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Coin Laundry
  • Corner Lot
  • Heating System Uses Steam
  • 2-minute walk to Deering Oaks Park

About This Home

As of November 2023

Great downtown location close to Deering Oaks Park and the Arts District for this Parkside 12 unit. Well cared for by the same owner over the last 27 years. Very stable tenant/rental history. Cute units in super walkable location that appeals to tenants. Owner has made consistent improvements to units overtime. Easy management with 10 one bedrooms and 2 studio units. 11 units are occupied and 1 vacant. Expenses have been kept low by smart upgrades over time. No need to worry about landscaping and snow removal with this one either.

Last Agent to Sell the Property

Erin Oldham Susan Kendeigh

Portside Real Estate Group Listed on: 07/17/2023

Last Buyer's Agent

John Mullen

Mulkerin Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,960

Year Built

  • Built in 1900

Lot Details

  • 3,049 Sq Ft Lot
  • Corner Lot

Home Design

  • Wood Frame Construction
  • Shingle Roof
  • Clap Board Siding
  • Clapboard

Interior Spaces

  • 12 Full Bathrooms
  • 8,831 Sq Ft Home
  • Multi-Level Property
  • Wood Flooring

Unfinished Basement

  • Walk-Out Basement
  • Interior Basement Entry

Parking

  • No Driveway
  • On-Street Parking

Location

  • City Lot

Utilities

  • No Cooling
  • Heating System Uses Natural Gas
  • Heating System Uses Steam
  • Gas Water Heater

Listing and Financial Details

  • Legal Lot and Block 12 / E
  • Assessor Parcel Number PTLD-000048-E000012-000001

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Amenities

  • Coin Laundry
  • Community Storage Space

Building Details

  • Operating Expense $37,859
  • Gross Income $151,452

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,960

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.07
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Above Grade Finished Sq Ft: 8831.0
  • Architectural Style: Multi-Level
  • Garage Yn: No
  • Year Built: 1900
  • Location Information:Leased Land: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.07
  • Property Information:Total Baths: 12.0
  • Property Information:SqFt Finished Above Grade: 8831.0
  • Property Information:Garage: No
  • Site:Corner Lot: 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:Wood3: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Basement Entry:Interior: Yes
  • Basement Entry:Walk-Out: Yes
  • Water Heater:Gas: Yes
  • Amenities:Storage: Yes
  • Gas:Natural - On Site: Yes
  • Basement:Unfinished: Yes
  • Heat Fuel:Gas Natural: Yes
  • Property Information:Number of Units: 12
  • Exterior:Clapboard: Yes
  • Income Expenses Gross Income: 151452.0
  • Income Expenses Operating Expenses: 37859.0
  • Style:Multi-Level: Yes
  • Heat System:Steam: Yes
  • Driveway:No Driveway: Yes
  • Parking:No Parking: Yes
  • Parking:On Street: Yes
  • Electric:Fuses: Yes
  • Amenities:Laundry - Coin: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Has Basement: Walk-Out Access, Interior Entry, Unfinished
  • Full Bathrooms: 12
  • Flooring: Wood, Other
  • Interior Amenities: Storage

Exterior Features

  • Lot Features: Corner Lot, Sidewalks, Intown, Near Shopping, Neighborhood
  • Waterfront: No
  • Construction Type: Clapboard, Wood Frame
  • Roof: Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: No Driveway, None, On Street

Utilities

  • Laundry Features: Laundry - Coin
  • Cooling: None
  • Cooling Y N: No
  • Heating: Steam
  • Heating Yn: Yes
  • Electric: Fuses, 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: 3049.2
  • Parcel #: PTLD-000048-E000012-000001
  • Zoning: R-6

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 151452.0
  • Annual Operating Expense: 37859.0

Tax Info

  • Tax Annual Amount: 15960.0
  • Tax Block: E
  • Tax Book Number: 12550
  • Tax Lot: 12
  • Tax Map Number: 48
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2023
Closed on
Nov 27, 2023
Sold by
Mellen Sherman Corp
Bought by
62 Mellen Llc
Seller's Agent
Erin Oldham Susan Kendeigh
Portside Real Estate Group
Buyer's Agent
John Mullen
Mulkerin Real Estate
List Price
$1,675,000
Sold Price
$1,425,000
Premium/Discount to List
-$250,000
-14.93%
Current Estimated Value
$1,506,946

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$81,946
Avg. Annual Appreciation
6.74%
Original Mortgage
$619,875
Outstanding Balance
$612,263
Interest Rate
7.57%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$982,903
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
62 Mellen Llc $1,425,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 62 Mellen Llc $619,875
Closed 62 Mellen Llc $619,875
Previous Owner Mellen Sherman Corp $125,000
Previous Owner Mellen Sherman Corp $459,200
Previous Owner Mellen Sherman Corp $75,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/27/2023 11/27/23 Sold $1,425,000 -14.9% $161 / Sq Ft
09/15/2023 09/15/23 Pending -- -- --
07/17/2023 07/17/23 For Sale $1,675,000 -- $190 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $17,602 $1,172,700 $255,600 $917,100
2023 $16,899 $1,172,700 $255,600 $917,100
2022 $15,960 $1,172,700 $255,600 $917,100
2021 $15,233 $1,172,700 $255,600 $917,100
2020 $11,030 $473,200 $127,800 $345,400
2019 $11,030 $473,200 $127,800 $345,400
2018 $10,638 $473,200 $127,800 $345,400
2017 $10,245 $473,200 $127,800 $345,400
2016 $9,989 $473,200 $127,800 $345,400
2015 $9,762 $473,200 $127,800 $345,400
2014 $9,464 $473,200 $127,800 $345,400
Source: Public Records

Agents Affiliated with this Home

  • E

    Seller's Agent in 2023

    Erin Oldham Susan Kendeigh

    Portside Real Estate Group

    Section Image

  • J

    Buyer's Agent in 2023

    John Mullen

    Mulkerin Real Estate

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Map

Source: Maine Listings

MLS Number: 1565331

Maine Listings

APN: PTLD-000048-000000-E012001

Maine Cumberland County Portland 04101 Parkside

62 Mellen St, Portland, ME

This home is located at 62 Mellen St, Portland, ME 04101 since 17 July 2023 and is currently estimated at $1,506,946, approximately $170 per square foot. This property was built in 1900. 62 Mellen St is a home located in Cumberland County with nearby schools including Reiche Community School, King Middle School, and Baxter Academy for Tech & Sciences.

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.

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