Multi-Family Investment Portfolio

Multi-Family for Sale
Catylist Listing ID: 30855561
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Other
Number of Units: 59 Units
Building Size (RSF): 21,616 SF
Gross Building Area: See Agent
Gross Land Area: 0.41 Acres
Sale Price: $3,525,000
Unit Price: $59,745.76 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 59-Unit Portfolio
Sale Terms: Cash to Seller
Cap Rate: 8.56%
Last Updated: 11/15/2023

Overview / Comments

The Boulos Company is pleased to present the exclusive portfolio sale of 92 Bartlett Street, 137 College Street & 69 Horton Street, a rooming house portfolio totaling 59 units in the heart of Downtown Lewiston. The sale includes 3 meticulously managed buildings within walking distance from one another in one of Maine’s fastest growing investment markets.

Turnkey investment portfolio with excellent historical occupancy rates and very strong rental income

Throughout the years, ownership has made several capital improvements to most of the properties including but not limited to re-wiring, new decks, new carpeting, new fire rated doors, new bathrooms, and updated heating systems among others.

Centrally located in Downtown Lewiston within walking distance to several restaurants, retailers, greenspaces, and more.

Each building can be purchased separately. See broker for details.

Additional Details

Nearest MSA: Lewiston-Auburn
County: Androscoggin
Taxing Authority: City of Lewiston
Tax ID/APN: Map 194, Lot 305 and Map 195, Lots 417 & 442
Zoning: DR & NCB
Property Located Between: Located in the heart of Downtown Lewiston
Highway Access: Maine Turnpike
Airports: Portland International Jetport
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 3
Roof Type: Gable
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: Street parking available; shared on-site parking at 69 Horton Street
Heat Type: Natural Gas
Zoning Description: DR - Downtown Residential & NCB
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,203 48,932 59,530
Median Age: 31.81 37.14 38.35
Households: 8,732 20,804 25,186

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