55 Sherman St
Portland, ME 04101
$1,520,000
Last Sold Price
4
Beds
8
Baths
6,104 Sq. Ft.
$249 / Sq. Ft.
6,104
Sq. Ft.
$249
per Sq. Ft.
Closed 10/31/24
Closed 10/31/24
Description
This classic Portland building offers a blend of historic charm and modern upgrades making this lovely 7 unit apartment building a rare find in the Portland market. Ideal for investors or an owner occupied opportunity which provides stability, growth potential, and minimal future maintenance. The first floor apartment is a spacious 2 bed, 2 full bath unit; living room with bay windows, a formal dining room, kitchen with pantry space, high ceilings & plenty of light throughout with nooks and crannies...This classic Portland building offers a blend of historic charm and modern upgrades making this lovely 7 unit apartment building a rare find in the Portland market. Ideal for investors or an owner occupied opportunity which provides stability, growth potential, and minimal future maintenance. The first floor apartment is a spacious 2 bed, 2 full bath unit; living room with bay windows, a formal dining room, kitchen with pantry space, high ceilings & plenty of light throughout with nooks and crannies for clever storage spaces; currently owner occupied. An ideal situation to set the rent to current market or for the new owner to reside comfortably. All 7 apartments have updated flooring, appliances, new windows, updated lighting. Upgrades completed with durability in mind along w/ creative use of color & space to attract long-term residents. Other updates include a new roof (2022) with a 50 year, twice transferrable warranty; updated NG boiler in the basement, LED light fixtures throughout building, line to the street main replaced with PVC as well as the plumbing lines under basement & stacks to the third floor. Radon removal system installed. The building has also been insulated to maximize energy savings including spray foam in the basement, insulation board under updated siding, insulation under new drywall in the back hallway & attic storage space completed this year. Fully fenced backyard for green space available for all to enjoy including canopy for sun shade, fire pit, grill and sitting swing. Coin-op washer and dryer for extra monthly cash. Ideal peninsula location with an amazing walkability score of 92 to restaurants, shops, bars & services. Highly desirable deeded parking spaces for 7 vehicles with no maintenance responsibilities. Excellent rental history and currently fully occupied. 55 Sherman Street has approved and recorded banked rents for the completed renovations available for use by the new owner.
- Listed by Katherine Murray • Coldwell Banker Realty • 207-773-1990
Property Details for 55 Sherman Street
Waterfront
No
ArchitecturalStyleMansard
Garage Spaces.00
GarageNo
ZoningR6
LISTING UPDATED: 10/31/2024 02:41 PM
Property Details for 55 Sherman Street
| Status | Closed |
|---|---|
| MLS # | 1591157 |
| Days on Market | 89 |
| Taxes | $10,093 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Commercial |
| Year Built | 1910 |
| Lot Size | 0.26 AC / 11,325 SF |
| County | Cumberland County |
Location
Listing Courtesy of Coldwell Banker Realty
Sold By Redfin Corporation
Add your commute
Building Information for 55 Sherman Street
Stories-Residences7Year Built1910Building Size-Lot Size0.26 AC / 11,325 SF
Payment Calculator
$8,805 per month
30 year fixed, 6.845% Interest
Principal and Interest
$7,964
Property Taxes
$841
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 55 Sherman Street
Summary
Location and General Information
- Zip Code: 2202
- Directions: Right off State St. Sherman St. Located between State and Mellen.
- Town: Portland
- State/Province: ME
- Zip Code: 04101
- County: Cumberland
- Geo Latitude: 43.655985
- Geo Longitude: -70.268688
- Tax Lot: 22
- Site:Sidewalks: Yes
- Location:Near Shopping: Yes
- Location:Near Town: Yes
- Location:Neighborhood: Yes
- Transportation:Major Road Access: Yes
- Transportation:Public Transport Access: Yes
Parking
- Parking Features: 5 - 10 Spaces, Concrete, Leased, On Site, Off Street
- Attached Garage: No
Taxes and HOA Information
- Tax Book Number: 19214
- Tax Block: D
- Tax Map Number: 48
- Tax Year: 2023
- Parcel Number: PTLD-000048-D000022-000001
- Location Information:Association Y/N: No
- Tax Annual Amount: $10,093.00
- Restrictions:No Restrictions: Yes
Property
Heating and Cooling
- Water Heater:Gas: Yes
Lot Information
- SqFt Finished Below Grade: 1492.0
- SqFt Finished Above Grade: 4612.0
- Lot Size Acres: 0.26
- Source of Acreage: Public Records
- Building Area Total: 6104.0
- Lot Size Area: 0.26
- Lot Size Units: Acres
- Lot Size Square Feet: 11325.6
- Bathrooms Full: 8
- Bathrooms Half: 0
- Street Number: 55
- Property Information:Surveyed: Unknown
- Property Information:Seasonal: No
- Property Information:Deed/Conveyance Type Offered: Warranty
- Property Information:Deed: All
- Property Information:Total Half Baths: .00
Parking
- Driveway:Concrete: Yes
Property and Assessments
- Sign on Property: Yes
- Leased Land: No
- Property Type: Multi-Family
- Property Type Label: Multi-Family
- Property Sub-Type: Multi Family
- Year Built: 1910
Utilities
- Electric: Circuit Breakers
- Sewer: Yes
- Water Source: Public
- Other Equipment: Internet Access Available, Cable
- Utilities:Utilities On: Yes
- Gas:Natural - On Site: Yes
Interior and Exterior Features
Exterior Features
- Construction Materials: Vinyl Siding, Brick, Other, Masonry
- Vehicle Storage:No Vehicle Storage: Yes
- Roof: Shingle
- Patio and Porch Features:Patio: Yes
Interior Features
- Basement: Brick/Mortar, Walk-Out Access, Interior Entry, Unfinished
- Flooring: Wood, Tile, Laminate, Carpet
- Interior Features: Other, Storage
- Cooling: None
- Heating: Radiator
- Foundation Details: Pillar/Post/Pier, Brick/Mortar
- Laundry Features: Laundry - Coin
- Bathrooms Total (Integer): 8
- Bathrooms Total (Decimal): 8.00
- Bathrooms Total (Notational): 8.00
- Cooling YN: No
- Heating YN: Yes
Multi Family
Income & Expenses Information
- Gross Income: $105,540.00
- Operating Expenses: $21,821.72
Multi-Family Information
- Number of Units: 7
Unit 1
- Unit 1:Lease: No
- Unit 1:Level: First
- Unit 1:Security Deposit: No
- Unit 1:Monthly Rent: $.00
- Unit 1:# Full Baths: 2.00
- Unit 1:# of Half Baths: .00
- Unit 1:# of Rooms: 6.00
- Unit 1:# of Bedrooms: 2.00
- Unit 1:Dedicated Electric Meter: Yes
- Unit 1:Dedicated Gas Meter: No
- Unit 1:Dedicated Water Heater: No
- Unit 1:Electric: Yes
- Unit 1:Heat: Yes
- Unit 1:Range: Yes
- Unit 1:Refrigerator: Yes
- Unit 1:Sewer: Yes
- Unit 1:Water: Yes
Unit 2
- Unit 2:Lease: Yes
- Unit 2:Level: Second
- Unit 2:Security Deposit: No
- Unit 2:Monthly Rent: $1,785.00
- Unit 2:# Full Baths: 1.00
- Unit 2:# Half Baths: .00
- Unit 2:# of Rooms: 4.00
- Unit 2:# of Bedrooms: 1.00
- Unit 2:Dedicated Electric Meter: Yes
- Unit 2:Dedicated Gas Meter: No
- Unit 2:Dedicated Water Heater: No
- Unit 2:Electric: Yes
- Unit 2:Heat: Yes
- Unit 2:Range: Yes
- Unit 2:Refrigerator: Yes
- Unit 2:Sewer: Yes
- Unit 2:Water: Yes
Unit 3
- Unit 3:Lease: Yes
- Unit 3:Level: Second
- Unit 3:Security Deposit: Yes
- Unit 3:Monthly Rent: $1,330.00
- Unit 3:# Full Baths: 1.00
- Unit 3:# Half Baths: .00
- Unit 3:# of Rooms: 2.00
- Unit 3:# of Bedrooms: .00
- Unit 3:Dedicated Electric Meter: Yes
- Unit 3:Dedicated Gas Meter: Yes
- Unit 3:Dedicated Water Heater: No
- Unit 3:Electric: Yes
- Unit 3:Heat: Yes
- Unit 3:Range: Yes
- Unit 3:Refrigerator: Yes
- Unit 3:Sewer: Yes
- Unit 3:Water: Yes
Unit 4
- Unit 4:Lease: Yes
- Unit 4:Level: Third
- Unit 4:Security Deposit: Yes
- Unit 4:Monthly Rent: $1,510.00
- Unit 4:# Full Baths: 1.00
- Unit 4:# Half Baths: .00
- Unit 4:# of Rooms: 4.00
- Unit 4:# of Bedrooms: 1.00
- Unit 4:Dedicated Electric Meter: Yes
- Unit 4:Dedicated Gas Meter: Yes
- Unit 4:Dedicated Water Heater: No
- Unit 4:Electric: Yes
- Unit 4:Heat: Yes
- Unit 4:Range: Yes
- Unit 4:Refrigerator: Yes
- Unit 4:Water: Yes
Unit 5
- Unit 5:Lease: Yes
- Unit 5:Level: Third
- Unit 5:Security Deposit: Yes
- Unit 5:Monthly Rent: $1,355.00
- Unit 5:# Full Baths: 1.00
- Unit 5:# Half Baths: .00
- Unit 5:# of Rooms: 3.00
- Unit 5:# of Bedrooms: .00
- Unit 5:Dedicated Electric Meter: Yes
- Unit 5:Dedicated Gas Meter: Yes
- Unit 5:Dedicated Water Heater: No
- Unit 5:Electric: Yes
- Unit 5:Heat: Yes
- Unit 5:Range: Yes
- Unit 5:Refrigerator: Yes
- Unit 5:Sewer: Yes
- Unit 5:Water: Yes
Unit 6
- Unit 6:Lease: Yes
- Unit 6:Level: Third
- Unit 6:Security Deposit: Yes
- Unit 6:Monthly Rent: $1,390.00
- Unit 6:# Full Baths: 1.00
- Unit 6:# Half Baths: .00
- Unit 6:# of Rooms: 2.00
- Unit 6:# of Bedrooms: .00
- Unit 6:Dedicated Electric Meter: Yes
- Unit 6:Dedicated Gas Meter: Yes
- Unit 6:Dedicated Water Heater: No
- Unit 6:Electric: Yes
- Unit 6:Heat: Yes
- Unit 6:Range: Yes
- Unit 6:Refrigerator: Yes
- Unit 6:Sewer: Yes
- Unit 6:Water: Yes
Unit 7
- Unit 7:Lease: Yes
- Unit 7:Level: Second
- Unit 7:Security Deposit: Yes
- Unit 7:Monthly Rent: $925.00
- Unit 7:# Full Baths: 1.00
- Unit 7:# Half Baths: .00
- Unit 7:# of Rooms: 2.00
- Unit 7:# of Bedrooms: .00
- Unit 7:Dedicated Electric Meter: Yes
- Unit 7:Dedicated Gas Meter: No
- Unit 7:Dedicated Water Heater: No
- Unit 7:Electric: Yes
- Unit 7:Heat: Yes
- Unit 7:Range: Yes
- Unit 7:Refrigerator: Yes
- Unit 7:Sewer: Yes
- Unit 7:Water: Yes
Unit Information
- Units:# of 1 BD Units: 6
- Units:# of 2 BD Units: 1
- Units:# of 3 BD Units: 0
- Units:# of 4+ BD Units: 0
Property History for 55 Sherman Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Oct 31, 2024 | Sold (Public Record) Public Record #1544223263 | $1,520,000 | — |
| Oct 31, 2024 | Sold Maine Listings #1593380 | $1,520,000 | — |
| Oct 31, 2024 | Sold Maine Listings #1591157 | $1,520,000 | — |
| Aug 27, 2024 | Pending Maine Listings #1593380 | — | |
| Aug 27, 2024 | Pending Maine Listings #1591157 | — | |
| Aug 27, 2024 | Active Under Contract Maine Listings #1593380 | — | |
| Aug 27, 2024 | Active Under Contract Maine Listings #1591157 | — | |
| Jul 9, 2024 | Price Change Maine Listings #1593380 | $1,550,000 | — |
| May 21, 2024 | Listed (Active) Maine Listings #1591157 | $1,645,000 | — |
| May 21, 2024 | Listed (Active) Maine Listings #1593380 | $1,645,000 | — |
| Apr 2, 2024 | Expired Maine Listings #1560512 | $1,625,000 | — |
| Oct 19, 2023 | Withdrawn Maine Listings #1560512 | $1,625,000 | — |
| Oct 11, 2023 | Pending Maine Listings #1560512 | — | |
| Oct 10, 2023 | Active Under Contract Maine Listings #1560512 | — | |
| Apr 2, 2023 | Listed (Active) Maine Listings #1560512 | $1,625,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 10/31/2024 | Sold (Public Record) Public Record #1544223263 | $1,520,000 |
| 10/31/2024 | Sold Maine Listings #1593380 | $1,520,000 |
| 10/31/2024 | Sold Maine Listings #1591157 | $1,520,000 |
| 08/27/2024 | Pending Maine Listings #1593380 | — |
| 08/27/2024 | Pending Maine Listings #1591157 | — |
| 08/27/2024 | Active Under Contract Maine Listings #1593380 | — |
| 08/27/2024 | Active Under Contract Maine Listings #1591157 | — |
| 07/09/2024 | Price Change Maine Listings #1593380 | $1,550,000 |
| 05/21/2024 | Listed (Active) Maine Listings #1591157 | $1,645,000 |
| 05/21/2024 | Listed (Active) Maine Listings #1593380 | $1,645,000 |
| 04/02/2024 | Expired Maine Listings #1560512 | $1,625,000 |
| 10/19/2023 | Withdrawn Maine Listings #1560512 | $1,625,000 |
| 10/11/2023 | Pending Maine Listings #1560512 | — |
| 10/10/2023 | Active Under Contract Maine Listings #1560512 | — |
| 04/02/2023 | Listed (Active) Maine Listings #1560512 | $1,625,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 55 Sherman Street
Taxable ValueLand$289,500Additions$410,900Total$700,400
Tax Record2024$10,513 ($876 / month)
Home Facts
Total Finished SqFt6,104 SqFtAbove Grade Finished SqFt6,104 SqFtLot Size11,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyCUMBERLANDAPNPTLD M:048 B:D022001
Schools near 55 Sherman Street
This home is within Portland Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Howard C Reiche Community School PublicPK to 5 | ||
King Middle School Public6 to 8 | ||
Casco Bay High School Public9 to 12 | ||
Deering High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Coldwell Banker Realty
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2022 Maine Real Estate Information System, Inc. All Rights Reserved.
