$775,000
We are pleased to present 127 Howe Street for sale - a five-unit market-rate multi-family asset located in the heart of downtown Lewiston, Maine. Comprising two detached wood-frame buildings on a 0.31± acre parcel, the property combines a strong in-place income stream with meaningful value-add upside through its substantial surplus… Read More land area. The property consists of a front building (three units, 2-3 stories) and a fully gut-renovated rear building (two units), constructed circa 1896 and extensively updated beginning in 2021. All five units are two-bedroom/one-bath configurations of varying sizes. Unit interiors are in good condition, with the rear building reflecting above-average condition following a complete renovation from the studs, including new plumbing, electrical, flooring, and modern bathroom tile surrounds. The front building has received select updates to flooring and mechanicals. The property presents a compelling combination of near-term income stability and longer-term development optionality - rare in the current Lewiston/Auburn multifamily market. Read Less
Courtesy of The Dunham Group 207-773-7100
Listing Snapshot
Days Online
18
Last Updated
Full Baths
5
Square Ft.
5,596
Lot Size
0.31 Acres
Year Built
1896
MLS Number
1660921
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Other", Building Area Total: 5,596, Construction Materials: "Wood Frame", "Vinyl Siding", Number Of Units Total: 5, Year Built: 1896
Cooling
Cooling: "None"
Expenses
Operating Expense: $42,831
Floors
Flooring: "Laminate"
Foundation
Foundation Details: "Poured Concrete"
Heating
Heating: "Oil", "Baseboard", "Hot Water", Heating Included
Income
Gross Income: $119,364
Interior Features
Features: "Storage"
Lot
Features: "Level", "Sidewalks", "Intown", "Neighborhood", 0.31 acres, Area: 0.31, 13,504 square feet
Parking
Features: "Paved", "On Site"
Property
Parcel Number: LEWI-000196-000000-000168, Zoning: DR
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $3,993, Tax Lot: 168
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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