32 Melbourne Street 32 Melbourne St 1,617 SF 100% Leased Flex Building Portland, ME 04101 $1,195,000 ($739.02/SF)

NOT in Historic District | Prime for 5 Unit Development. Tucked away on one of Munjoy Hill's most peaceful streets, 32 Melbourne Street captures the essence of Portland's East End—connected, calm, and full of character. The home's original lines remain beautifully intact, while the lot itself is open, sunny, and inviting. The home offers just over 1,600 square feet with three bedrooms and one full baths. It's comfortable and move-in ready, yet the real story here is one of potential and possibility. Sitting on a 0.0844-acre lot—approximately 3,675 square feet—in Portland's desirable RN4 zone, the property holds special development appeal. In this zone, just 725 square feet of lot area are required per dwelling unit, meaning this site could support up to five residential units. Attention developers: this is a rare opportunity for a quality-minded multi-family owner, investor, or visionary builder to create a purposeful condominium or small-scale residential project for resale or personal use. Because the property lies outside the constraints of the historic district, you have freedom to restore, expand, or reimagine without limitation. Imagine living just steps from Maine's bold coast, one block from the Olmsted-designed East End Park with its tennis courts, ball fields, community gardens, walking paths, and sandy beach. You're connected by trails to Back Cove and the Old Port and just moments from Washington Avenue and East Bayside's lively mix of shops, breweries, and boutiques. The location offers both serenity and access—walkable to downtown Portland, the working waterfront, and near major employers and the forthcoming Root Institute across the bridge. From the upper floors, enjoy sweeping, open ocean and inner Casco Bay views stretching across the islands, with potential for panoramic vistas toward Mount Washington and the western mountains. Whether you honor the home's timeless charm or develop something entirely new, opportunities abound.