240 Park Ave
Portland, ME 04102
For more information on this listing, contact us at: (207) 272-2202
Active
$699,900
240 Park Ave Portland, ME 04102
Multi-Family
Property Type
3
Baths
2,333
Sq. Ft.
1897
Year Built
Cumberland
County
Listing Office
Office
Elevate Maine Realty
Elevate Maine Realty
**Looking for a Portland, Maine multi-family property that makes sense as both a home and an investment?** Welcome to 240 Park Avenue, a two-unit property offering six total bedrooms, three bathrooms, and the flexibility to live in one unit while generating rental income from the other, or add both units to an investment portfolio. The first-floor unit features two bedrooms, one bathroom, hardwood floors, generous natural light, and a practical layout with a spacious kitchen and ample cabinetry. Upstairs, the second unit spans two levels with four bedrooms, two bathrooms, expansive living areas, hardwood flooring, and access to a private balcony. Two distinct floor plans provide options for different rental strategies and owner-occupied living arrangements. From an investment standpoint, the property offers separately metered gas and electricity, individual water heaters, shared basement laundry, and garage storage. These existing features provide a solid starting point for buyers evaluating operating expenses, rental potential, and long-term ownership. **Location is a major part of the opportunity.** Positioned across from the Portland Expo and steps from Hadlock Field, home of the Portland Sea Dogs, 240 Park Avenue offers convenient access to downtown Portland, the Old Port, Maine Medical Center, the University of Southern Maine, and I-295. Nearby destinations include Hannaford, Whole Foods Market, local restaurants, coffee shops, fitness facilities, and shopping at the Maine Mall in South Portland. Whether you're exploring your first house hack, expanding an existing rental portfolio, or searching for a Portland duplex with multiple income possibilities, 240 Park Avenue deserves a closer look. **Two units, six bedrooms, separate utilities, and an in-town location - an opportunity worth running the numbers on.**
MLS #
1684067
Monthly HOA
N/A
On Site
Not Available
Last Updated
11/1/2026
Location
Contact Agent
Maureen Zemrak
(207) 272-2202Property Details
Community Information
Architecture
Bathrooms
3
Year Built
1897
Style
Victorian
Construction Materials
Wood Frame, Shingle Siding
# 2 Bed Units
1
# 4+ Bed Units
1
Roof
Shingle
Basement
Bulkhead, Full, Unfinished
Parking Features
Paved, 1 - 4 Spaces, On Site, On Street
Garages Features
No Vehicle Storage
Features / Amenities
Flooring
Tile, Wood
Patio And Porch
Deck, Porch
Other Structures
Shed(s)
Green Energy Efficient
Water Heater
Cooling
Window Unit(s)
Heating
Gas Natural, Direct Vent Furnace, Hot Water, Steam
Water Heater
Off Heating System
Square Footage Finished Sq. Ft.
Above Grade
2333
Property Features
Lot Size
0.08 Acres
Lot Features
Intown, Near Shopping, Near Turnpike/Interstate, Neighborhood, Sidewalks
Roads
Paved, Public
Sewer
Public Sewer
Water
Public
Electric
On Site, Circuit Breakers
Gas
Natural - On Site
Road Surface
Paved
Zoning
R6
Tax and Financial Info
Tax Year
2025
Gross Income
$76,500
Operating Expense
$17,881
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Listing Information Last Updated 11/1/2026

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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Mortgage values are calculated by Sierra Interactive and are provided for estimate purposes only. Walking and Transportation data are provided by WalkScore as a guideline and should be independently verified.