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33 - 37 Montreal Street, Portland, ME 04101

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For Sale

$2,490,000

0.25 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • 0.3 acres
    Lot size

Explore this Property

This project pencils. This approved 12 unit condominium project is one of the most lucrative opportunities in Maine. This parcel is the last lot available of this size in the most desired neighborhood in Maine, Portland's Munjoy Hill. Looking out over the Atlantic Ocean, with a 120 acre F.L. Olmstead designed park, ocean side trails, tennis and pickle ball courts within a 3-5 minute walking distance and 2 marinas, a sailing school and public access for your sea kayak or paddle board within 10 minutes walking distance this location is rare and one of the best on the East Coast. Couple the location with Portland's rankings as a top 10 city for quality of living, dining and retiring and you can understand why this opportunity is so compelling. Condos have uninterrupted ocean views from 2d,3d and 4th floors and offer 13 underground parking spaces. This elevated (120' ASL) and gently sloping site offers expansive Casco Bay views on one of the East End's quietest yet most convenient streets. This part of Munjoy Hill is open, airy, inviting and equi-distant from Eastern Promenade recreation and inner Washington Ave breweries, boutiques, James Beard Award winning restaurants, bakeries and more. If you prefer to design and build your own project the site is located in Portland's most generous residential zone (R6), allowing 45' in height (from this height you have a near 360* view from sunrise to sunset, ocean to mountains and even city skyline) up to 14 market rate or 35 affordable units. The corner lot allows for zero setbacks on two sides and tremendous flexibility on designs. Surveys, Geo-tech soil testing, architectural designs and planning board approvals are complete. The owners have engaged one of Maine's most respected architectural firms; Kaplan Thompson. Documents are available and this team is posted and ready to field questions.
MLS# 1590551

Courtesy Of Benchmark Real Estate
72 Pine Street, Portland, ME 04102
(207) 775-0248

Property Features

  • Architecture Style
    Other
  • Lot Size
    0.25 Acres
  • Roof Type
    Unknown

Map and Directions

Directions to 33 - 37 Montreal Street, Portland, ME 04101

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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