It's in the top 10% of views. Tour it before it's gone!
Today:
About this home
Prime Portland Investment Opportunity! Calling all investors, contractors, and visionaries. Located in a highly desirable Portland neighborhood, this 2-unit duplex at 15 Russell Street offers a rare chance to bring a multi-family property back to life. Priced aggressively this building is a true blank canvas awaiting a complete top-to-bottom renovation. Whether you are looking to execute a full condo-conversion, design a premium owner-occupied multi-family, or add a high-yield rental asset to your portfolio, the potential here is unmatched. The property requires extensive rehabilitation and is being sold strictly as-is, making it an ideal candidate for cash buyers or 203k/construction financing. Capitalize on Portland's exceptionally strong rental market and severe inventory shortage. Properties with this level of value-add potential are increasingly rare. Bring your architect, your contractor, and your imagination to unlock the immense equity waiting within these walls.
Valley Street, located between Congress Street and the Fore River Parkway, is a residential and light-industrial Portland neighborhood with compact blocks and working waterfront edges. The neighborhood’s character concentrates around the Valley Street–Congress Street junction, where corner storefronts, repair shops, and small studios meet steady cross-town traffic. Longfellow Square anchors the nearby streetscape, while the Portland Museum of Art and Merrill Auditorium add a cultural throughline up Congress. Housing mixes older multi-unit buildings with converted commercial spaces, giving the area a practical, lived-in texture. Side streets feel quieter, while the main corridors carry buses, bikes, and a steady rhythm of daily errands. The Fore River Trail and Western Promenade corridor frame the geography with green relief and broad views.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Partial basement with interior entry
Bedrooms
Two bedrooms on the first floor
Two bedrooms on the second floor
Bathrooms
Two full bathrooms, one per unit
Kitchen
Refrigerator in each unit
Flooring
Carpet, vinyl, and wood flooring
Heating & cooling
Steam heating
Exterior features
In-town location near shopping
Sidewalks
Paved road
Home design
Duplex
Multi-level
Parking
No driveway
Construction
Built in 1910
Wood-frame construction with vinyl siding
Pillar/post/pier and brick/mortar foundation
Fiberglass roof
Utilities
Public water
Public sewer
Circuit-breaker electrical system
Water heater off the heating system
Financial info
Two units, each with two bedrooms and one full bathroom
Electricity and solar
View estimated energy costs and solar savings for this home
Priced to Sell! West End Duplex across from Maine Medical Center. Two bedroom units with separate utilities. Updated roof and well maintained systems. Good potential to take it to the next level.
Year
Property tax
Land + Additions
Assessment*
2024
$8,024 (+4.2%)
$273,600 + $261,000
$534,600
2023
$7,704 (+5.9%)
$273,600 + $261,000
$534,600
2022
$7,276 (+4.8%)
$273,600 + $261,000
$534,600
2021
$6,944 (+48.2%)
$273,600 + $261,000
$534,600
2020
$4,685
$137,900 + $63,100
$201,000
2019
$4,685 (+3.7%)
$137,900 + $63,100
$201,000
2018
$4,518 (+3.8%)
$137,900 + $63,100
$201,000
2017
$4,352 (+2.6%)
$137,900 + $63,100
$201,000
2016
$4,243 (+2.3%)
$137,900 + $63,100
$201,000
2015
$4,147 (−13.6%)
$137,900 + $63,100
$201,000
2014
$4,800
$137,900 + $102,100
$240,000
Public record
Public record
Zoning
Beds
6
Baths
2
Stories
2
Lot width
—
Lot depth
—
Lot size
2,614 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
2,209
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,209
Year built
1910
Style
Multi-Family (2-4 Unit)
County
Cumberland County
APN
114273
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
R6
MMC IOZ
Residential
To set aside areas on the peninsula for housing characterized primarily by multi-family dwellings at a high density providing a wide range of housing for differing types of households; to conserve the existing housing stock and residential character of neighborhoods by controlling the scale and external impacts of professional offices and other nonresidential uses; and to encourage new housing development consistent with the compact lot development pattern typically found on the peninsula.
Zone overlays
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Other
Bed & breakfast
Lodging & hospitality-Other
Cemetery
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 88° expected this year, 18 days in 30 years
6/10 Wind Factor
64% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Portland, ME • 04102
Average low and high temperatures (°F)
30
17
33
16
44
29
53
37
63
48
75
58
81
63
78
59
72
54
61
44
50
34
35
21
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
73/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
7.8 hrs
4.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 15 Russell St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $275,000 and $858,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $275K to $858K.