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518 Riverside Drive, 
Augusta, ME 04330

$255,000


Bed


2

Baths


1,897

Sq Ft


Multi-Family

Active

Pouliot Real Estate, 207-248-6044

Last updated:

July 24, 2026, 10:16 AM

MLS#

1673153

Source:

ME MREIS

About This Home

518 Riverside Drive

Looking to get into real estate investing or offset your mortgage with rental income? This well-maintained two-unit property offers flexibility that's hard to find. Unlike a traditional side-by-side duplex, these apartments are arranged one above the other, providing two spacious living areas with separate entrances. Whether you're looking to owner-occupy one unit while renting the other or add a solid income-producing property to your portfolio, this property is worth a closer look. An added bonus is the home's versatility. With its layout, the property could be converted back into a single-family home with relative ease, giving future owners additional options as their needs change. Each unit features bright living spaces, two comfortable bedrooms, functional kitchens, and the convenience of its own washer and dryer hookups. Each unit also offers its own heating source and own electric meter allowing for heat and electricity to be paid for by tenants should you desire. The property generates an estimated gross annual rental income of $31,200 with estimated annual operating expenses of $10,938, making it an attractive opportunity. Outside, you'll find ample parking and a manageable yard that's easy to maintain while still offering space to relax or garden. The asphalt roof, vinyl siding and vinyl window provides for ease of maintenance, plus the convenient location puts shopping, schools, and major commuting routes just a short distance away. In addition, the basement is easily accessed from an exterior door making storage a breeze. Whether you're looking to build equity through rental income, expand your investment portfolio, or own a home with built-in flexibility for the future, this property checks all the boxes. Schedule your private showing today before this opportunity is gone.

Home Facts

Multi-Family

2 Baths

Built in 1843

Price Summary

255,000

$134 per Sq. Ft.

MLS #:

1673153

Last Updated:

July 24, 2026, 10:16 AM


Rooms & Interior

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2


Structure

Structure

Architectural Style:

New Englander

Building Area:

1,897 Sq. Ft.

Year Built:

1843


Lot

Lot Size (Sq. Ft):

20,473


Finances & Disclosures

Finances

Price:

$255,000

Price per Sq. Ft:

$134 per Sq. Ft.

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MREIS Multiple Listing Service™ systemListing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.