60 Rackleff St, Portland, ME 04103

Property Description

Deering Highlands has long been one of Portland's most coveted locations. Quiet, tree-lined streets provide an idyllic residential setting, yet the vibrant neighborhood centers of Woodford's Corner, Rosemont and Deering Center are just moments away. Beyond this, unparalleled access to schools, UNE and USM, along with an incredible collection of cafés, restaurants, bars, breweries, boutiques, parks, playgrounds and recreational trails, places the very best of Portland right outside your door. Complementing an outstanding location is a truly remarkable property. 60-62 Rackleff Street represents a rare opportunity to acquire a three-unit property that is special in every way. Comprehensively updated from heating systems to roof and nearly everything in between, this distinguished building combines historic architectural details with modern fit, finish and amenities. Each spacious, sun-filled residence is beautifully appointed with high-end, condominium-quality finishes, updated kitchens and baths, and in-unit laundry. Tenants pay for heat, hot water and electricity, making this an exceptionally efficient, low-maintenance investment. Off-street parking, ample storage and a host of improvements too extensive to list further enhance its appeal. With a net operating income of $85,880 and a cap rate of 5.74%, the numbers are as compelling as the property itself. Exceptional rents and generous banked rent make this a marquee addition to any quality-minded portfolio, an ideal owner-occupied investment or a compelling candidate for future condominium conversion. From historic details to modern touches, from an outstanding location to exceptional financial performance, 60-62 Rackleff Street represents a once-in-a-generation opportunity.