57-59 Cumberland Avenue, Portland, ME 04101

$895,000

Located on Munjoy Hill just outside of inner Washington Avenue, this five-unit property sits in the center of one of Portland's most dynamic and desirable neighborhoods--surrounded by bars, breweries, and boutiques, and the energy that defines the East End. Positioned on an elevated site, the property offers city skyline views and represents one of the more compelling and reasonably priced investment opportunities in Portland. With two structures and five total units, ample off-street parking, and strong upside potential, this is an ideal candidate for a 1031 exchange or a quality long-term hold. The property generates ~ $57,000 in net operating income and offers a healthy 6.4% cap rate, delivering immediate returns while positioning investors to benefit from long-term appreciation in one of Portland's most sought-after neighborhoods. A key differentiator: the property is NOT located within Portland's historic district, opening the door to meaningful flexibility - whether your plan is to renovate, reposition, pursue condo conversion, or demo & develop. With recent high-end condo projects nearby, the potential self evident. The location offers an exceptional Portland lifestyle--walkable to inner Washington Avenue, the Eastern Promenade, East End Beach, and downtown, and immediately proximate to major employers, Portland's growing… Read MoreRead Less

Courtesy of Benchmark Real Estate 207-775-0248

Listing Snapshot

Days Online

Last Updated

Apr 26, 2026

Full Baths

Square Ft.

2,112

Lot Size

0.11 Acres

Year Built

1920

MLS Number

1658526

Additional Details

Basement

Basement: "Interior", "Brick/Mortar", "Full"

Building

Architectural Style: "Other", "New Englander", Building Area Total: 2,112, Construction Materials: "Vinyl Siding", "Shingle Siding", "Other Exterior", "Wood Frame", Number Of Units Total: 5, Year Built: 1920, 3 stories, 3 total stories

Cooling

Cooling: "None"

Expenses

Operating Expense: $26,042

Exterior Features

Other Equipment: "Internet Access Available", Patio And Porch Features: "Porch", Patio And Porch Features: "Porch"

Fence

Fencing: "Fenced"

Floors

Flooring: "Wood", "Tile", "Carpet"

Foundation

Foundation Details: "Concrete Perimeter", "Brick/Mortar"

Heating

Heating: "Hot Water", Heating Included

Income

Gross Income: $83,040

Interior Features

Features: "Bathtub", "One-Floor Living", "Shower"

Laundry

Features: "Washer Hookup"

Lot

Features: "Open", "Level", "Sidewalks", "Intown", "Near Golf Course", "Near Public Beach", "Near Shopping", "Near Turnpike/Interstate", "Neighborhood", "Near Public Transit", "Near Railroad", 0.11 acres, Area: 0.11, 4,792 square feet

Parking

Features: "5 - 10 Spaces", "Paved"

Pets Policy

Pets Allowed: "No Restrictions"

Property

Parcel Number: PTLD-000013-K000057-000001, Zoning: RN4

Roof

Roof: "Pitched", "Shingle"

Sewer

Sewer: "Public Sewer"

Taxes

Annual Amount: $12,321, Tax Lot: 057001

Utilities

Electric: "Circuit Breakers", Water Source: "Public"

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Selling price

Down payment

Term (years)

Interest rate (%)

Monthly Payment

30 Days Snapshot Of 04101

$660k

+2%

(avg) sold price

-9%

homes sold

+24%

(avg) days on market

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57-59 Cumberland Avenue

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