115-117 Pierce
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115-117 Pierce
9 Unit Apartment Building $850,000 ($94,444/Unit) 12.88% Cap Rate Lewiston, ME 04240
EXECUTIVE SUMMARY
Nice 9 unit package that has had many capital improvements made such as lead abatement, kitchens, flooring, painting + rental increases w/ more upside as well. This two building portfolio offers (1) 1 bedroom, (4) 2 bedrooms + (4) 4 bedroom units. Please don't miss the opportunity to own an investment that has good cash flow + appreciation in one of the hottest markets in the state of Maine!
PROPERTY FACTS
| Price | $850,000 | Apartment Style | Low Rise |
| Price Per Unit | $94,444 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 12.88% | Building Size | 8,043 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1921/2023 |
| Price | $850,000 |
| Price Per Unit | $94,444 |
| Sale Type | Investment |
| Cap Rate | 12.88% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 8,043 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1921/2023 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 7 | - | - |
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Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | LEWI-000196-000000-000097 | Improvements Assessment | $148,380 |
| Land Assessment | $19,200 | Total Assessment | $167,580 |
PROPERTY TAXES
Parcel Number
LEWI-000196-000000-000097
Land Assessment
$19,200
Improvements Assessment
$148,380
Total Assessment
$167,580
ZONING
| Zoning Code | DR (Downtown Residential) |
| DR (Downtown Residential) |
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115-117 Pierce
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