50 Alder St Portland, ME 04101

Be part of Bayside's exciting transformation-one of Portland's fastest redeveloping neighborhoods. This spacious, move-in ready duplex with a garage workshop sits in the heart of the Peninsula within the dynamic B2b business zone, offering both immediate cash flow and long-term upside. The Bayside Master Development Plan envisions major investment in new housing, green space, and commercial opportunities that will reshape the neighborhood into one of Portland's most vibrant mixed-use districts. This property offers buyers the chance to secure a prime foothold in the middle of this transformation while values remain accessible. The detached garage includes a workshop-ideal for a creative or trade business-and off-street parking adds daily convenience. Just steps to Bayside Bowl and minutes to Trader Joe's, Whole Foods, the Old Port, and the Arts District, this location has a Walk Score of 98. Unit #50 features 4 bedrooms, 2 baths and generous living space, while Unit #48 offers 3 bedrooms with approximately 455 sq ft of additional bonus space-perfect for finishing to expand value. With permits, there's even potential to convert Unit #48 into a 4-bedroom, 2-bath or to add a third unit within the existing footprint. Floor plans indicate the gross living area is significantly larger than tax records show-about 3,936 sq ft total. The property sits on a 6,076 sq ft lot in the B2b zone, which allows for medium-scale mixed-use and multifamily development. Zoning permits up to 13 residential units by right (buyer to verify with the city). The seller has been proactive in addressing items from a recent seller initiated inspection, and the report is available upon request. Currently financed with an FHA loan, the property should be financeable with any mortgage product. 50 Alder Street offers scale, flexibility, and future growth potential in a neighborhood poised for long-term appreciation.