50 Alder Street
Portland, ME 04101
Baths
3
Square Ft.
3,653
$700,000
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… Read More 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). Read Less
Courtesy of EXP Realty 888-439-8743
Listing Snapshot
Days Online
71
Last Updated
Full Baths
3
Square Ft.
3,653
Lot Size
0.13 Acres
Year Built
1850
MLS Number
1630079
30 Days Snapshot Of 04101
$974k
+23%
(avg) sold price
19
+46%
homes sold
153
+150%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Colonial", Building Area Total: 3,653, Construction Materials: "Vertical Siding", "Wood Frame", Number Of Units Total: 2, Year Built: 1850
Cooling
Cooling: "None"
Expenses
Operating Expense: $16,000
Exterior Features
Patio And Porch Features: "Porch", Patio And Porch Features: "Porch"
Floors
Flooring: "Wood", "Tile", "Carpet"
Foundation
Foundation Details: "Brick/Mortar"
Garage
Garage Included, 2 garage spaces
Heating
Heating: "Wood Stove", "Hot Water", "Baseboard", Heating Included
Income
Gross Income: $78,000
Laundry
Features: "Laundry - 1st Floor", "Main Level"
Lot
Features: "Level", "Intown", 0.13 acres, Area: 0.13, 5,663 square feet
Parking
Features: "1 - 4 Spaces", "Paved"
Pets Policy
Pets Allowed: "No Restrictions"
Property
Occupant Type: "Owner", Parcel Number: PTLD-000033-C000016-000001, Zoning: B2b
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $9,848, Tax Lot: 16+17
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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