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Listed by Daniel Weber Nicholas Laverriere Keller Williams Realty
$ 969,000
Est. payment | /mo
10 Baths
14,400 SqFt
$ 969,000
Est. payment | /mo
10 Baths
14,400 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,400 sqft
Price per Sqft $67
MLS Listing ID 1667692
Full Baths 10
HOA Y/N No
Year Built 1916
Tax Year 2025
Lot Size 5,227 Sqft
Acres 0.12
Source Maine Listings
Land Area 14400
Property Description
Turnkey 10-unit investment opportunity in the heart of Lewiston. 37 Union Street has undergone an extensive renovation, with all ten apartments receiving significant interior updates including new flooring, updated kitchens, renovated bathrooms, fresh finishes, and modernized living spaces. The unit mix offers a strong blend of 1-bedroom, 2-bedroom, and 3-bedroom apartments, providing broad tenant appeal and helping reduce vacancy risk.
Beyond the cosmetic improvements, major capital expenditures have already been completed. The property features two brand-new heating systems, two new hot water heaters, and a roof that has been professionally inspected and deemed to be in good condition. Investors can take comfort knowing many of the costly deferred maintenance items have already been addressed.
Currently generating $12,613 per month in rental income, this asset offers immediate cash flow with the potential benefits of a fully stabilized and updated building. Many of the apartments showcase attractive hardwood floors, original architectural details, built-ins, and spacious layouts that tenants appreciate, while the updated systems help minimize future maintenance concerns.
Conveniently located in Lewiston, residents enjoy easy access to local employers, restaurants, shopping, public transportation, and the ongoing redevelopment occurring throughout the city. The property is also just minutes from Bates College, Central Maine Medical Center, and the Auburn-Lewiston commercial corridor, making it a desirable location for a wide range of tenants.
Whether you're looking to expand an existing portfolio or acquire a large multifamily property with substantial renovations already completed, 37 Union Street presents a rare opportunity to purchase a cash-flowing 10-unit building with major updates already in place.
Beyond the cosmetic improvements, major capital expenditures have already been completed. The property features two brand-new heating systems, two new hot water heaters, and a roof that has been professionally inspected and deemed to be in good condition. Investors can take comfort knowing many of the costly deferred maintenance items have already been addressed.
Currently generating $12,613 per month in rental income, this asset offers immediate cash flow with the potential benefits of a fully stabilized and updated building. Many of the apartments showcase attractive hardwood floors, original architectural details, built-ins, and spacious layouts that tenants appreciate, while the updated systems help minimize future maintenance concerns.
Conveniently located in Lewiston, residents enjoy easy access to local employers, restaurants, shopping, public transportation, and the ongoing redevelopment occurring throughout the city. The property is also just minutes from Bates College, Central Maine Medical Center, and the Auburn-Lewiston commercial corridor, making it a desirable location for a wide range of tenants.
Whether you're looking to expand an existing portfolio or acquire a large multifamily property with substantial renovations already completed, 37 Union Street presents a rare opportunity to purchase a cash-flowing 10-unit building with major updates already in place.
Location
State ME
County Androscoggin
Zoning Unknown
Direction College Street to Union Street
Rooms
Basement Interior Entry, Finished, Partial, Unfinished
Interior
Heating Gas Natural, Baseboard
Cooling None
Flooring Vinyl, Wood
Exterior
Parking Features Gravel, Off Street
Roof Type Flat,Membrane
Garage No
Building
Lot Description Near Turnpike/Interstate, Near Town, Neighborhood, Level, Open Lot
Entry Level Multi-Level
Water Public
Architectural Style Other
Others
Tax ID LEWI-000194-000000-000321
