69 Stanford St South Portland, ME 04106
Ferry Village NeighborhoodEstimated payment $5,051/month
Highlights
- Colonial Architecture
- No HOA
- Heating System Uses Natural Gas
- Wood Flooring
- Level Lot
- 2-minute walk to School Street Playground
About This Home
Now offered with a $25,000 price reduction, 69 Stanford Street in South Portland presents a rare opportunity to secure a high-performing 3-unit asset in a top-tier location. Each unit is separately metered, with tenants covering their own electric, heat, and hot water—keeping overhead low and returns strong. A new roof on the water side was completed just three weeks ago. Current rents are below market, offering clear value-add potential as units turn over. Unit 2 will be delivered vacant at the end of July, ideal for owner-occupancy, rent repositioning, or light renovation. Units 1 and 3 have tenants interested in renewing, providing stability. Additional revenue comes from a coin-operated washer/dryer, and the property offers both off-street and on-street parking. Located just minutes from downtown Portland, Willard Beach, and the area's most popular dining and retail, this is an ideal asset for investors seeking cash flow, appreciation, and long-term upside in one of Southern Maine's most desirable rental markets.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,598
Year Built
- Built in 1900
Lot Details
- 4,356 Sq Ft Lot
- Level Lot
Parking
- Gravel Driveway
Home Design
- 2,650 Sq Ft Home
- Colonial Architecture
- Wood Frame Construction
- Shingle Roof
- Vinyl Siding
Flooring
- Wood
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 3 Full Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Utilities
- No Cooling
- Heating System Uses Natural Gas
- Heating System Mounted To A Wall or Window
- Electric Water Heater
Listing and Financial Details
- Tax Lot 076/C
- Assessor Parcel Number 69StrandfordStreetSouthPortland04106
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $13,495
- Gross Income $75,180
Map
Home Values in the Area
Average Home Value in this Area
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 | $7,598 | $575,600 | $185,900 | $389,700 |
| 2023 | $6,593 | $466,300 | $124,500 | $341,800 |
| 2022 | $6,320 | $406,200 | $99,600 | $306,600 |
| 2021 | $5,971 | $406,200 | $99,600 | $306,600 |
| 2020 | $5,364 | $271,600 | $76,600 | $195,000 |
| 2019 | $5,188 | $271,600 | $76,600 | $195,000 |
| 2018 | $5,025 | $271,600 | $76,600 | $195,000 |
| 2017 | $4,889 | $271,600 | $76,600 | $195,000 |
| 2016 | $4,915 | $277,700 | $69,700 | $208,000 |
| 2015 | $4,832 | $277,700 | $69,700 | $208,000 |
| 2014 | $4,749 | $277,700 | $69,700 | $208,000 |
| 2013 | $4,638 | $277,700 | $69,700 | $208,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/26/2025 06/26/25 | Price Changed | $800,000 | 0.0% | $302 / Sq Ft |
| 06/26/2025 06/26/25 | For Sale | $800,000 | -3.0% | $302 / Sq Ft |
| 06/16/2025 06/16/25 | Pending | -- | -- | -- |
| 05/23/2025 05/23/25 | For Sale | $825,000 | -- | $311 / Sq Ft |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $350,000 | Commercial | |
| Closed | $10,000 | Unknown | |
| Closed | $568,000 | Unknown |
Source: Maine Listings
MLS Number: 1623761
APN: SPOR-000006-000000-000076C
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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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