0 Winchester DrPortland, ME 04103

Property Details for 0 Winchester Dr

Year built

2023

Lot size

2.83 AC

Property size (Sq ft)

46,944 SF

Property type

Investment properties

Property subtype

Apartment buildings

Description

This exceptional turnkey investment opportunity presents a 48-unit Class A multifamily property in Portland, Maine's desirable East Deering neighborhood. Completed in 2023, this meticulously maintained complex comprises four three-story buildings, totaling 46,944 square feet on a 2.826-acre lot (APN: 427 L005001). The property features a mix of spacious one- and two-bedroom units, each boasting modern fixtures, stainless steel appliances, patios/decks, and in-unit washer/dryers. Ample parking, including EV charging stations, is provided. Residents enjoy access to attractive green spaces and a convenient walking path to Presumpscot Elementary School's recreational fields. The property benefits from its proximity to downtown Portland's vibrant food scene, retail, Back Bay, and major transportation routes (I-295). Furthermore, its location near the University of Southern Maine and the University of New England's Portland campus, coupled with the proximity to the Roux Institute's upcoming major development, positions this investment for significant long-term value appreciation and rental growth. High-efficiency features include electric water heaters and heat pumps. Note that twelve units are subject to income restrictions (80% AMI) for 30 years. The asking price is $13,000,000 ($270,833 per unit, $276.93 per square foot). The property is currently fully leased and professionally managed. Zoned R5.

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6834

Longitude

-70.2581

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