About this home
Exceptional Mixed-Use Investment Opportunity in South Portland Rare opportunity to acquire a well-maintained, income-producing mixed-use property in a highly visible Main Street location. This versatile three-unit building offers a diversified income stream with a gross annual income of $70,800, anchored by an established medical office occupying the entire first floor, providing the benefit of stable commercial tenancy. The two residential units above provide additional rental income and strong tenant appeal. Each residential unit features its own washer and dryer, while tenants are responsible for their own heat and electricity -- helping reduce owner expenses and maximize net operating income. Meticulously cared for and truly turnkey, the property offers desirable amenities including off-street parking for up to three residential vehicles, additional on-street parking for tenants, clients, and guests, and convenient access to public transportation. Ideally positioned along South Portland's Main Street corridor, this property is close to local businesses, shopping, dining, downtown Portland, major commuter routes, and area amenities. With proven rental history, strong tenant demand, diversified commercial and residential income, and excellent visibility, this is a rare opportunity to own a stable, cash-flowing investment property in one of Southern Maine's most desirable markets.
Listing last checked: Listing updated:
Listed by Listing Agent · Dream Home Realty LLC · MLS #1665990
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Details at a glance
Interior3 property facts
- Heating
- Electric, Heat Pump
- Cooling
- Heat Pump
- Flooring
- Carpet, Linoleum, Vinyl
Building4 property facts
- Style
- Other
- Year built
- 1920
- Foundation
- Brick/Mortar
- Roof
- Shingle
Land & utilities4 property facts
- Lot size
- 0.16 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- LB
Financial2 property facts
- Annual taxes
- $9,062
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $849,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$5,048 / monthAdjust
- Principal & interest
- $4,293
- Property tax
- $755
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $9,062. 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 597 Main Street
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