Welcome to one of the most unique investment opportunities in downtown Biddeford. This spacious 19th-century home sits on a rare 0.36-acre lot just steps from the heart of the city, offering flexibility that is virtually unheard of at this location and price point. The home itself offers 3,552 sq ft, 7 bedrooms, 2 full baths, and 2 half baths. It is structurally sound, well cared for over the years, and features updated electrical and systems throughout. Current zoning allows for up to 8 units on this lot, and the existing structure is well suited for conversion to a 2 or 3 unit multi-family or commercial use, which it has operated as in the past. The generous lot also provides ample off-street parking, a rare and valuable asset in a downtown setting. Biddeford's downtown revitalization is well underway, with $90M+ in approved projects, a growing restaurant and retail scene, and a cost basis significantly below Portland. Restaurants, cafes, shops, and the Saco River are all within easy walking distance. Portland is less than 30 minutes away and Boston is just over 1.5 hours, making this an ideal location for commuters and visitors. Whether you are an investor, developer, or owner-occupant looking for something truly special, 200 Alfred Street checks every box. Properties with this combination of size, location, and zoning potential rarely come to market. Come see it for yourself. Please refer to Residential listing MLS#1659340