Catylist ID:
#30839989
Multi-Family Investment Portfolio
Multi-Family
for Sale
Sale Pending/Contingent
| Catylist Listing ID: | 30839989 |
| Property Subtypes: | Mid-Rise |
| Status: | Pending/Contingent |
| Number of Units: | 18 Units |
| Building Size (RSF): | 15,103 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.22 Acres |
| Sale Price: | $1,450,000 |
| Unit Price: | $80,555.56 Per Unit |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/15/2023 |
Overview / Comments
|
The Boulos Company is pleased to present the exclusive portfolio sale of 179 Pine Street & 115-117 Pierce Street, multi-family investment properties totaling 18 units in the heart of Downtown Lewiston. The sale includes 3 apartment buildings within walking distance from one another with 2 parking lots. All buildings have undergone significant capital improvements, updated mechanical systems, and completed Lewiston’s lead abatement program. Excellent historical occupancy with below market rents Unit mix includes ten 2 BR 1 BA units, six 1 BR 1 BA units, & two efficiency units Several capital improvements have been completed over the last couple of years including but not limited to new roofs, boilers, siding and decks among others 115-117 Pierce Street completed Lewiston’s lead abatement program in 2023. Seller requests that the new buyer assumes contract from the City of Lewiston’s LEAD Grant Program. See broker for additional details Renovations within vacant units to be completed prior to closing |
Attachments & Media
Additional Details
| Nearest MSA: | Lewiston-Auburn |
| County: | Androscoggin |
| Submarket/Township: | Lewiston/Auburn |
| Taxing Authority: | City of Lewiston |
| Tax ID/APN: | 196/097 & 195/207 |
| Zoning: | DR - DOWNTOWN RESIDENTIAL |
| Airports: | Auburn/Lewiston Municipal |
| Total Number of Buildings: | 2 |
| Number of Stories: | 3 |
| Year Built: | 1921 |
| Year Renovated: | 2023 |
| Roof Type: | Hip |
| Construction/Siding: | Wood Frame |
| Parking Type: | Surface |
| Heat Type: | Natural Gas |
| Heat Source: | Other |
| Fuel: | Gas |
| Zoning Description: | DR - Downtown Residential |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | 9920/345 9303/27 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 19,623 | 46,754 | 59,530 |
| Median Age: | 32.26 | 36.57 | 38.35 |
| Households: | 8,406 | 19,842 | 25,186 |
Contact
Noah StebbinsThe Boulos CompanyNECPE Member |
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