55-57-59 St Lawrence Street, Portland, ME 04101

Local realty services provided by:ERA Dawson-Bradford Co., REALTORS
55-57-59 St Lawrence Street,Portland, ME 04101
$2,250,000
  • - Beds
  • 7 Baths
  • 9,600 sq. ft.
  • Multi-family
  • Active
Listed by: thomas landry
Office: benchmark real estate
MLS#:1640137
Source:ME_MREIS

Price summary

  • Price:$2,250,000
  • Price per sq. ft.:$234.38

About this home

Rare opportunity in one of New England's most desirable coastal communities! Ideally located on a quiet street atop Portland's historic Munjoy Hill, this seven-unit multifamily includes a separate buildable lot — an extraordinary find in one of the city's most coveted RN4 (formerly R6) residential zones. Originally built as a classic double-triple, the property now offers seven well-maintained units with significant updates, modern life-safety systems, and individual utilities — each tenant pays their own heat, hot water, and electricity. The building has been carefully maintained, and rents have kept pace with the market, producing an NOI of ~ $107,000 and a healthy 5% cap rate with strong, consistent income. The real value lies in the adjoining buildable lot, capable of supporting 9 new residential units. Buildings in this zone may reach up to 45 feet in height, offering commanding ocean and city views. The property has already been surveyed, and preliminary civil engineering and

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Home facts

  • Year built:1915
  • Listing ID #:1640137
  • Updated:February 10, 2026 at 04:34 PM

Rooms and interior

  • Total bathrooms:7
  • Full bathrooms:7
  • Living area:9,600 sq. ft.

Heating and cooling

  • Heating:Direct Vent Heater

Structure and exterior

  • Year built:1915
  • Building area:9,600 sq. ft.
  • Lot area:0.26 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,250,000
  • Price per sq. ft.:$234.38
  • Tax amount:$18,906 (2026)
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