Home for Sale – 86 Ocean Avenue, Portland, Maine – $495,000

Three solid investment options exist for this historic 1848 farmhouse in highly desirable Back Cove, one of the most livable & walkable neighborhoods in Portland. Single family home with legal apartment or up to 5 residential units. Options include: One, restore the spacious home & its established gardens – set back from the road on a large lot with mature trees & shrubs. Classic New England farmstead architectural features include the large brick fireplace, connecting kitchen to living areas; charming stairway and banister, and open landing to 4 bedrooms. Plantings, typical of old Maine homesteads, include lilac, roses, grape arbor, day lilies, hostas, tulips, herb & vegetable gardens, along with black walnut, cedar, fir & ash trees – all providing a wonderful backdrop for any avid gardener. Lot could easily accommodate a swimming pool, fruit trees or more extensive perennial &vegetable gardens. Two: Convert the existing barn/garage into legal ADU. Three: Investors & developers also benefit from the R-5 zoning & develop a maximum of (4) residential units plus an ADU. Solid groundwork has been laid for whichever route is pursued: inspection, survey & architect’s analysis of development potential available. Unbeatable options – all in walking & biking distance to Back Cove trail, Backyard Blooms, Coveside Coffee, Tipo, Big Sky Bread, and downtown Portland. Property is being sold ”as is.”