50 Alder Street, Portland, ME 04101 (MLS # 1630079)

PRICE $800,000 BEDS 0 BATHS 3 HOME SIZE 3,653 sqft LOT SIZE 5,663 sqft Request More Info Schedule a Showing

Be part of the transformation of Bayside, which is one of the fastest redeveloping neighborhoods in Portland. Located in the heart of Portland's Peninsula in the dynamic B2b business zone, this owner-occupied duplex at 50 Alder Street offers a great opportunity for both cash flow and long-term upside. If you're an owner-occupant looking to offset your mortgage or an investor seeking a strategic buy-and-hold, this property is full of opportunity. The building is in move-in ready condition, with tons of space, 4 bedrooms in one unit and 3 bedrooms in the other. There may be potential to add an additional unit within the existing building, with permits. Situated on a 6,076 square foot lot, the B2b zone allows for medium-scale mixed-use and multifamily development. Existing zoning allows this parcel to support up to 13 residential units by right (buyer to verify with the city). In addition to the duplex, the detached garage includes a workshop area"”ideal for storage, a creative studio, or business-related use. Off-street parking adds convenience for residents or future occupants. Invest in one of Portland's most walkable neighborhoods, steps away from Bayside Bowl, with Whole Foods, Trader Joe's, the Old Port and the Arts District all within easy reach. This walker's paradise has a walkscore of 98 out of 100. Whether you plan to live in one unit, rent both, or explore the property's full redevelopment potential, 50 Alder Street is a versatile opportunity in a fast-evolving part of the city. Showings start on Saturday, July 19th for the open house from 10am to 12pm.