$2.95M Sale Sets New Price Record in Portland
A recently sold two-family home at 4 St. Lawrence St. on Munjoy Hill just set a new benchmark in Portland’s real estate market. Closing at $2.95 million, it marks the highest sale price and price per unit ever recorded for a two- to four-family home in the city.
Modern Living in a Historic 1856 Property
Listed by Tom Landry of Benchmark Real Estate, the 4,842-square-foot property dates back to 1856 and was fully renovated in 2012. Updates included structural steel framing, redesigned interiors, and high-end finishes, creating two luxury units with private decks, garages, and an elevator.
Why Buyers Are Shifting to High-End Multi-Unit Homes
The property attracted strong interest from both local and out-of-state buyers. Many viewed it as an ideal alternative to condos or single-family homes, offering privacy and flexibility without the constraints of a homeowner association. Demand for this type of layout is growing among those seeking space for guests or multi-generational living.
What This Sale Signals for the Portland Market
This record-breaking deal underscores a broader trend: buyers are increasingly drawn to turnkey, upscale two- and three-unit properties. As Landry notes, many are not looking to be landlords but want flexibility and autonomy. The price per square foot—$609—exceeds the April median for both single-family and condo units in Portland.