About this home
103 Read Street presents a substantial 1.41 acre offering in Portland, combining an existing three unit property with three additional vacant lots and compelling long term potential. The existing multi-family includes three residential units, while the additional acreage creates an opportunity to explore a range of future uses or development possibilities. A conceptual development plan explores the potential of an 8-16 unit Cottage Court community, subject to municipal review and approvals. The location offers convenient access to Back Cove, Baxter Boulevard, Payson Park, USM, downtown Portland, public transportation, and major commuter routes. With significant acreage in an established Portland neighborhood, 103 Read Street offers an intriguing opportunity for an investor, developer, or buyer looking to take a longer term approach to the property. Property is being sold as-is.
Listing last checked: Listing updated:
Listed by Listing Agent · RE/MAX By The Bay · MLS #1677063
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Details at a glance
Building1 property facts
- Style
- Other
Land & utilities4 property facts
- Lot size
- 1.41 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- RN1
Financial2 property facts
- Annual taxes
- $12,561
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $1,500,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$8,632 / monthAdjust
- Principal & interest
- $7,585
- Property tax
- $1,047
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $12,561. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 103 Read Street
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Request a tour of 103 Read Street and a Bean Group agent will help coordinate an available time with the listing side.
Can you help me evaluate this property?
Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
Are property documents available?
Availability varies by property and source. Request the documents you need and we will help obtain what is available.