494 Island Avenue, Portland, ME 04108

Portland
Local realty services provided by:Better Homes and Gardens Real Estate The Masiello Group
494 Island Avenue,Portland, ME 04108
$1,175,000
  • 2 Beds
  • 1 Baths
  • 576 sq. ft.
  • Single family
  • Active
Office: locations real estate group llc.
MLS#:1658995
Source:ME_MREIS

Price summary

  • Price:$1,175,000
  • Price per sq. ft.:$2,039.93

About this home

Here's your opportunity of a lifetime! This spectacular property is a truly rare offering with approximately 220 feet of ocean frontage overlooking Diamond Pass. Set well back from the road and perched along the shoreline, it captures sweeping, serene water views, sandy beach frontage (a rarity on the island), and a sense of peace and privacy that is increasingly hard to find. Whether it's mornings watching boats pass through the channel or quiet evenings at the water's edge, this is a setting that invites you to slow down and stay awhile. The existing home is ready for your vision--whether restoration, expansion, or reimagining. Whatever you choose, here's your opportunity to create something special in an extraordinary setting. Located near the island clubhouse and just steps from the water, there's potential for a mooring and possibly a dock (please verify). You're encouraged to perform your own due diligence regarding dock feasibility and accessory dwelling unit opportunities....

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Home facts

  • Year built:1965
  • Listing ID #:1658995
  • Updated:June 15, 2026 at 10:14 AM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:1
  • Full bathrooms:1
  • Rooms Total:5
  • Flooring:Carpet, Painted/Stained, Tile
  • Kitchen Description:Electric Range, Microwave, Refrigerator
  • Bedroom Description:1st Floor Bedroom
  • Basement Description:Daylight, Interior Entry, Unfinished, Walk-Out Access
  • Living area:576 sq. ft.

Heating and cooling

  • Heating:Baseboard, Direct Vent Heater, Electric, Heat Pump, Heating, Pellet Stove, Pellets, Propane

Structure and exterior

  • Roof:Shingle
  • Year built:1965
  • Building area:576 sq. ft.
  • Lot area:0.9 Acres
  • Lot Features:Level, Near Public Beach, Open Lot
  • Architectural Style:Ranch
  • Construction Materials:Shingle Siding, Wood Frame
  • Exterior Features:Deck
  • Foundation Description:Block

Utilities

  • Water:Public
  • Sewer:Septic Tank

Finances and disclosures

  • Price:$1,175,000
  • Price per sq. ft.:$2,039.93
  • Tax amount:$12,369 (2026)

Features and amenities

  • Appliances:Electric Range, Microwave, Refrigerator, Washer
  • Laundry features:Washer
  • Amenities:One-Floor Living

Parking

  • Parking description:5 - 10 Spaces, Gravel, Paved
MLS LogoMREIS Multiple Listing Service™ systemListing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved ME_MREIS Member Broker: Christopher Masiello

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