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850 Washington Ave
Portland, ME 04103
850 Washington Avenue | Renovated Duplex Near · Multifamily Property For Sale
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2 Units
Investment Highlights
- Renovated two-unit multifamily property
- Situated on over 0.50 acres in Portland
- Ample off-street parking
- Two spacious 2-bedroom apartments
- Detached 2-car garage
- Large backyard with future potential
Executive Summary
Opportunity, flexibility, and location come together at 850 Washington Avenue, a beautifully renovated two-unit property in one of Portland's most exciting growth corridors. Situated on over half an acre, this turnkey investment features two spacious 2-bedroom units, a detached 2-car garage, abundant off-street parking, and an expansive backyard, an increasingly rare find within the city. Both units have been thoughtfully updated with timeless finishes including white cabinetry, granite countertops, updated appliances, stylish bathrooms, and in-unit laundry. Separate gas and electric meters, along with newer boilers, make ownership and management simple and efficient. Whether you're an investor seeking a strong addition to your portfolio, an owner-occupant looking to offset your mortgage with rental income, or a parent searching for housing near Portland's rapidly growing educational and innovation district, this property offers exceptional versatility. Located just minutes from Downtown Portland, Back Cove, Payson Park, Tipo, Monte's Fine Foods, and countless local amenities, the property also benefits from its proximity to the Roux Institute and the transformative investment occurring throughout the surrounding neighborhood. As Portland continues to emerge as a hub for technology, research, education, and entrepreneurship, demand for housing in this area is expected to remain strong. Live in one unit and rent the other. Add a turnkey asset to your investment portfolio. Secure housing for a student, researcher, or professional while building equity in one of Portland's most desirable markets. With updated interiors, strong rental appeal, a large lot, garage parking, and an unbeatable location, 850 Washington Avenue presents an opportunity that is becoming increasingly difficult to find in Portland. A smart investment today--and an exciting opportunity for tomorrow! GROUP SHOWINGS TUES/THURS 1-2 PM
Property Facts
| Price Per Unit | $424,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Lot Size | 0.53 AC |
| Cap Rate | 6.49% | Building Size | 2,184 SF |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1864/2023 |
| Property Subtype | Apartment | ||
| Zoning | RN-3 - RN-3 | ||
| Price Per Unit | $424,500 |
| Sale Type | Investment |
| Cap Rate | 6.49% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.53 AC |
| Building Size | 2,184 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1864/2023 |
| Zoning | RN-3 - RN-3 |
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