Be part of the transformation of Bayside, which is one of the fastest redeveloping neighborhoods in Portland. Located in the heart of Portland's Peninsula in the dynamic B2b business zone, this owner-occupied duplex at 50 Alder Street offers a great opportunity for both cash flow and long-term upside. The property has a significant value-add opportunity to transform currently unheated bonus rooms in Unit 48, totaling approximately 455 sqft, into living space by adding heating elements and improving the finish (with permits). If you're an owner-occupant looking to offset your mortgage or an investor seeking a strategic buy-and-hold, this property is full of opportunity. The building is in move-in ready condition, with tons of space, 4 bedrooms in #50 and 3 bedrooms in #48. It could be possible to transform #48 into a 4 bedroom 2 bathroom unit by adding a first floor master bedroom and en suite bathroom using existing space. Based on the measurements generated through creation of the floor plans, the gross living area is larger than what is reflected in the public records, with 1354 sqft in #48 and 2582 sqft in #50 for a total of 3936 sqft. There may be potential to add an additional unit within the existing building, with permits. Situated on a 6,076 sqft lot, the B2b zone allows for medium-scale mixed-use and multifamily development. Existing zoning allows this parcel to support up to 13 residential units by right (buyer to verify with the city). In addition to the duplex, the detached garage includes a workshop area—ideal for storage, a creative studio, or business-related use. Off-street parking adds convenience for residents or future occupants. Invest in one of Portland's most walkable neighborhoods, steps away from Bayside Bowl, with Whole Foods, Trader Joe's, the Old Port and the Arts District all within easy reach. This walker's paradise has a walkscore of 98 out of 100. This duplex is a versatile opportunity in a fast-evolving area.
Active
Price cut: $15K (7/30)
$785,000
50 Alder Street, Portland, ME 04101
7beds
3,653sqft
Est.:
Multi Family
Built in 1850
-- sqft lot
$-- Zestimate®
$215/sqft
$-- HOA
What's special
- 28 days
- on Zillow |
- 1,349 |
- 48 |
Zillow last checked: 7 hours ago
Listing updated: July 30, 2025 at 09:47am
Listed by:
EXP Realty
Source: Maine Listings,MLS#: 1630079

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Wood Stove, Hot Water, Baseboard
Cooling
- None
Appliances
- Laundry: Laundry - 1st Floor, Main Level
Features
- Flooring: Wood, Tile, Carpet
- Basement: Interior,Full,Unfinished
Interior area
- Total structure area: 3,653
- Total interior livable area: 3,653 sqft
- Finished area above ground: 3,653
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: 1 - 4 Spaces, Paved
- Garage spaces: 2
Features
- Levels: Multi/Split
- Patio & porch: Porch
Lot
- Size: 5,662.8 Square Feet
- Features: Level, City Lot
Details
- Parcel number: PTLDM033BC016001
- Zoning: B2b
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
Materials
- Vertical Siding, Wood Frame
- Foundation: Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1850
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Portland
Financial & listing details
- Price per square foot: $215/sqft
- Tax assessed value: $656,100
- Annual tax amount: $9,848
- Date on market: 7/17/2025
- Road surface type: Paved
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