32 Clemons Street, South Portland, ME 04106
Local realty services provided by:Better Homes and Gardens Real Estate The Masiello Group
32 Clemons Street,South Portland, ME 04106
$1,395,000
- - Beds
- 6 Baths
- 3,990 sq. ft.
- Multi-family
- Active
Office: benchmark real estate
MLS#:1665032
Source:ME_MREIS
Price summary
- Price:$1,395,000
- Price per sq. ft.:$349.62
About this home
Rare opportunity to acquire an exceptional five-unit multifamily property in one of South Portland's most desirable neighborhoods. Set on approximately 0.60 acres, this offering combines strong current income, value-add potential, and an attractive owner-occupied opportunity.
The property has been meticulously maintained with extensive capital improvements, including roofing, a rebuilt front fire escape and deck system, electrical upgrades, an efficient natural gas heating system, exterior improvements, and a beautiful brick patio. This is a true turnkey asset with a level of care rarely found in today's multifamily market.
The owner's residence features a townhouse-style layout with expansive living areas, flexible bonus space, a barn, and a stunning great room above. Enjoy views toward the Portland skyline and Casco Bay from the private deck, while large windows provide abundant natural light.
The grounds include a circular driveway, mature gardens, green space, and a detached one-car garage. The generous lot offers a setting rarely found this close to Portland and South Portland amenities, with potential future expansion or redevelopment opportunities.
The property consists of three one-bedroom apartments, one studio apartment, and a spacious two-bedroom owner's unit. Current rents are below market, providing immediate upside potential. Tenants pay their own electricity, while the owner provides heat and hot water through an efficient natural gas boiler.
With approximately $88,000 in net operating income and a 6.4% cap rate, this property offers stable cash flow, strong tenant profiles, and long-term upside. Whether seeking a quality investment, owner-occupied multifamily, or future development opportunity, 32 Clemons Street is one of Greater Portland most compelling offerings.
Offers due Tuesday, June 9, at 3 PM....
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Home facts
- Year built:1930
- Listing ID #:1665032
- Updated:June 08, 2026 at 09:53 PM
Rooms and interior
- Total bathrooms:6
- Full bathrooms:6
- Flooring:Carpet, Hardwood, Tile, Vinyl, Wood
- Bathrooms Description:Bathtub
- Bedroom Description:1st Floor Bedroom
- Basement Description:Full, Interior Entry, Unfinished
- Living area:3,990 sq. ft.
Heating and cooling
- Heating:Baseboard, Gas Natural, Heating, Hot Water
Structure and exterior
- Roof:Pitched, Shingle
- Year built:1930
- Building area:3,990 sq. ft.
- Lot area:0.6 Acres
- Lot Features:Interior Lot, Landscaped, Near Country Club, Near Golf Course, Near Public Beach, Near Public Transit, Near Railroad, Near Shopping, Near Town, Near Turnpike/Interstate, Neighborhood, Open Lot, Rolling Slope, Suburban
- Architectural Style:New Englander
- Construction Materials:Vinyl Siding, Wood Frame
- Exterior Features:Deck, Patio, Porch
- Foundation Description:Brick/Mortar, Stone
- Levels:Multi Level
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,395,000
- Price per sq. ft.:$349.62
- Tax amount:$11,636 (2026)
Features and amenities
- Amenities:One-Floor Living
Parking
- Parking description:11 - 20 Spaces, Attached Garage, Detached, Inside Entrance, Off street, On Site, Paved
- Garage:Yes
- Garage spaces:3
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