Lewiston Portfolio - 58 Units

Multi-Family for Sale
Catylist Listing ID: 30815096
Property Subtypes: Mid-Rise, Mixed Use
Number of Units: 58 Units
Building Size (RSF): 60,747 SF
Gross Building Area: See Agent
Sale Price: $6,000,000
Unit Price: $103,448.28 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/26/2022

Overview / Comments

This high quality portfolio in the fastest growing Southern Maine investment market contains 58 units in 11 buildings, centrally located in the Downtown area and in close proximity to one another.
Very strong rental income with historic vacancy and delinquency rates near zero.
All buildings have parking; most units have had significant upgrades and some have been renovated from the studs-in. Some of the recent improvements include heating systems, plumbing, wiring, insulation, decking and cabinetry.
This portfolio has been operated by an extremely hands-on owner/manager, which is evident in the care of the buildings and the tenants. Fantastic opportunity to land a large, turnkey and profitable portfolio in this up-and-coming market.

Attachments & Media

Additional Details

Nearest MSA: Lewiston-Auburn
County: Androscoggin
Tax ID/APN: 01050_092/000/106
Zoning: VARIOUS
Total Number of Buildings: 11
Property Condition: Good
Parking Type: Surface
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Baseboard, Other
Fuel: Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,176 35,829 57,832
Median Age: 38.66 36.9 38.03
Households: 2,133 14,918 24,435

Contact

Photograph of Listing Agent

Chris Sullivan

Vitalius Real Estate Group
NECPE Member
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