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$1,100,000 Just Listed
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Property Description
High-Yield Multi-Asset Investment Opportunity, CT | Positioned in Middletown, this rare, income-producing portfolio features two 2-family homes (4 total units), a 2,898 sq ft workshop, and two additional land parcels-delivering multiple revenue streams and value-add potential. Each residential building offers approximately 1,380 sq ft and has been capital-improved with new roofs, new windows, updated electrical, and modernized plumbing, significantly reducing near-term CapEx. All structures are connected to natural gas, enhancing operational efficiency and tenant appeal. * 4-unit rental configuration with strong, consistent income potential * Additional monetization opportunity via the heated workshop (ideal for contractor lease, storage income, or owner use) * Two separate vacant parcels (.08 & .02 acres) create development or resale upside (buyer to perform due diligence) * Ability to increase rents to market for improved NOI and long-term appreciation. Situated on a combined .25-acre footprint, this asset offers flexibility to scale returns-whether through rent optimization, auxiliary income from the workshop, or future development of excess land. Ideal for investors seeking: * Cash flow + appreciation potential * Multiple exit strategies (hold, expand, or subdivide/sell parcels) Income-generating opportunity with built-in upside in a strong rental market.
Full Property Details
Full Property Details for Portland St
General
- Price: $1,100,000
- Taxes: (July 2025-June 2026)
- Status: Active
- Type: Commercial
- Source: SMARTMLS
- MLS ID: 24164387
- Updated: 4/3/2026
- Added to Site: 1 day(s) ago
Interior
- Flooring: Concrete, Vinyl, Wood
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Exterior
- Exterior Features: Storage Building, Sidewalk, Gutters, Lighting, Outside Storage Area
Location
- County: Middlesex
- Driving Directions: GPS Friendly
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard, Gas In Street
- Heating Fuel: Gas In Street
Utilities
- Sewer: Public Sewer Connected
- Water: Public Water In Street
- Utility Description: Electric, Gas
Structural Information
- Roof: Asphalt Shingle, Metal
- Square Feet: 5,176
- Sq. Ft. Source: Public Records
- Living Area: 2,760 Sq. Ft.
- Warehouse: 2,898 Sq. Ft.
- Year Built: 1900
Unit Information
Unit 1
- Total Bathrooms: 1
Lot Features
- Lot Size (Acres): 0.25
- Frontage: Paved Road
- Zoning: MXI
- Lot Description: Level Lot
Financial Considerations
- Assessment Amount: $224,140
- Tax Year: July 2025-June 2026
Disclosures and Reports
- Documents Avail.: Lead Disclosure
- Property ID: 1007354
Listed by Carl Guild & Associates, Jamie Smigel
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Price & Sales History for Portland St
Date
Details
Price
Change
Source
4/03/2026
Listed
$1,100,000
714.81%
MLS
8/31/2005
Sold
$135,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for Portland St
Year
Property Taxes
Change
Tax Assessment
Change
2024
100%
$40,430
—
2023
100%
$40,430
289%
2023
100%
$10,400
—
2022
100%
$10,400
—
2020
100%
$10,400
—
2019
100%
$10,400
—
2018
100%
$10,400
-62%
2017
100%
$27,270
—
2016
100%
$27,270
—
2015
100%
$27,270
-26%
2011
—
$36,960
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for Portland St
Portland Street, Middletown, CT 06457 (MLS# 24164387) is a Commercial property. Portland Street is currently listed for $1,100,000 and was received on April 03, 2026. Want to learn more about Portland Street? Do you have questions about finding other Commercial real estate for sale in Middletown? You can browse all Middletown real estate or contact a Coldwell Banker agent to request more information.

