Description
Well-maintained and updated 8-unit multifamily in a strong Lewiston rental market, offering a mix of stability and upside. The property features a diverse unit mix of (2) one-bedroom, (4) two-bedroom, and (2) three-bedroom units - positioning it well to attract a broad tenant base and reduce vacancy risk. The property has seen a mix of major exterior capital improvements and ongoing interior upgrades. Key components including the roof, siding, and heating system have been updated, helping reduce near-term capital expenditure risk. Several units have been renovated with updated kitchens, flooring, and interior finishes, supporting strong tenant demand and rental performance, while leaving additional units available for future improvements and continued rent growth. The property offers off-street parking for all units and benefits from Lewiston's continued rental demand and limited supply of larger multifamily assets. With a solid operational foundation already in place, this is a turnkey opportunity for investors seeking dependable cash flow with the ability to further optimize rents and increase long-term value. Whether you're scaling an existing portfolio or acquiring a stabilized asset in a growing market, this building checks the boxes for both performance and potential.
Details
| MLS # | 1660474 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1896 |
| Days On Site | 172 |
| Listing Provided By | Keller Williams Realty | Daniel Weber Nicholas Laverriere |
Features
| Bath(s) | 9 Total |
|---|---|
| SQ Feet | 7,920 |
| Basement | Y |
| Units | 8 |
| Zoning | DR |
| Acreage | 0.22 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Cooling Yes / No | No |
| Cooling | None |
| Fireplaces Total | 0 |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat, Membrane |
|---|---|
| Lot Features | Neighborhood, Level, Sidewalks |
| Construction Materials | Wood Frame, Vinyl Siding |
| Exterior Co Exterior | Vinyl Siding |
| Patio And Porch Features | Porch |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | No |
| Parking Features | Paved, 5 - 10 Spaces, On Site |
Utilities
| Sewer | Public Sewer |
|---|---|
| Electric | Circuit Breakers |
Taxes
| Tax Annual Amount | 5381 |
|---|---|
| Tax Book Number | 11349 |
| Tax Year | 2025 |
| Tax Lot | 145 |
| Tax Map Number | 196 |
Area Information
| State | ME |
|---|---|
| County | Androscoggin |
| City | Lewiston |
| Zip Code | 04240 |
| Area | Androscoggin |
| Listing VS Median (in 04240) | |
Price: $799,000 low | high Med: $359,000 sqft: 7,920 low | high Med: 3,200 $ / sqft: $101 low | high Med: $112 On site: 172 low | high Med: 38 | |
Market Activity 04240
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Learn More About This Property
| State | ME |
|---|---|
| County | Androscoggin |
| City | Lewiston |
| Zip Code | 04240 |
| Area | Androscoggin |
| Listing VS Median (in 04240) | |
Price: $799,000 low | high Med: $359,000 sqft: 7,920 low | high Med: 3,200 $ / sqft: $101 low | high Med: $112 On site: 172 low | high Med: 38 | |
