Date
Details
Price
Change
Source
10/07/2025
Listed
$2,250,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$2,250,000
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Property Description
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 lot division work have been completed and are available for review. From the upper floors of the existing structure - and any future development views of Casco Bay, the working waterfront and city skyline await, a rare perspective even on East End. Whether you're an investor seeking strong income with upside potential or a developer ready to capitalize on a premier site, this property checks every box.
Full Property Details
Full Property Details for 55-57-59 St Lawrence St
General
- Price: $2,250,000
- Taxes: $18,906 (2026)
- Status: Active
- Type: Multi-Family
- Source: MREIS
- MLS ID: 1640137
- Updated: 10/16/2025
- Added to Site: 105 day(s) ago
Interior
- Interior Features: 1st Floor Bedroom, Bathtub, One-Floor Living, Other, Pantry, Shower, Storage
- Flooring: Wood, Vinyl, Tile, Laminate
Rooms
Bathrooms
- Total Bathrooms: 7
- Full Bathrooms: 7
Other Rooms
- Laundry: Washer Hookup, Laundry - Coin
Additional Information
- Equipment: Internet Access Available, Cable
Exterior
- Porch/Patio/Deck: Porch
Parking
- Parking Features: 11 - 20 Spaces, Gravel, Paved, On-Site Parking
Location
- County: Cumberland
- Subdivision: Munjoy Hill Neighborhood Conservation District
Community
- Pets Allowed: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Direct Vent Heater
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Utilities On
Structural Information
- Architectural Style: Other
- Construction: Vinyl Siding, Wood Frame
- Roof: Flat
- Windows: Double Pane Windows
- Stories/Levels: 3
- Building Size: 9600
- Square Feet: 9,600
- Living Area: 9,600 Sq. Ft.
- Finished Total: 9,600 Sq. Ft.
- Finished Above Grnd: 9,600 Sq. Ft.
- Year Built: 1915
Additional Structures
- Other Structures: Shed(s)
Lot Features
- Property View: Scenic
- Lot Size (Acres): 0.26
- Lot Size (Sq. Ft.): 11,325.6
- Lot Size Source: Public Records
- Zoning: RN-4
- Lot Description: Rolling/Sloping, Level, Sidewalks, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Neighborhood, Near Public Transit, Near Railroad
- Fencing (Description): Fenced
Green Features
- Energy Efficient: Ceiling Fans
Financial Considerations
- Tax Amount: $18,906
- Tax Year: 2026
Disclosures and Reports
- Block: E
- Lot Number: 16-19
Listed by Benchmark Real Estate (207) 775-0248
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Listing agent
— 55-57-59 St Lawrence St —
Benchmark Real Estate
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Price & Sales History for 55-57-59 St Lawrence St
Tax History
Tax History for 55-57-59 St Lawrence St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$19,603
4%
$1,306,000
—
2023
$18,819
6%
$1,306,000
—
2022
$17,775
5%
$1,306,000
—
2021
$16,965
74%
$1,306,000
212%
2020
$9,767
—
$419,000
—
2019
$9,767
4%
$419,000
—
2018
$9,419
4%
$419,000
—
2017
$9,071
3%
$419,000
—
2016
$8,845
2%
$419,000
—
2015
$8,644
3%
$419,000
—
2014
$8,380
3%
$419,000
—
2013
$8,133
—
$419,000
—
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 55-57-59 St Lawrence St
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55-57-59 St Lawrence Street, Portland, ME 04101 (MLS# 1640137) is a Multi-Family property with 7 units containing 0 bedrooms and 7 full bathrooms. 55-57-59 St Lawrence Street is currently listed for $2,250,000 and was received on October 07, 2025. Want to learn more about 55-57-59 St Lawrence Street? Do you have questions about finding other Multi-Family real estate for sale in Portland? You can browse all Portland real estate or contact a Coldwell Banker agent to request more information.