About This Home

This 0-bedroom, 3-bathroom residential multi family at 280 Pine Street in Lewiston, ME is listed for $495,000 ($92 per sqft). Built in 1922, the home offers 5,355 sqft of living space on a 0.15 acres lot.

Key Features

  • Built in 1922
  • 0.15 acre lot

Property Details

3 full
1922
Listing Description

INVESTMENT OPPORTUNITY IN LEWISTON! Discover the potential at 280 High St, a three-unit multifamily property offering an excellent opportunity for investors seeking strong rental income and additional upside. The property features three fully occupied spacious 3-bedroom+ units, each currently renting for $2,000+ per month, producing $72,000+ in gross annual rental income.

Each unit offers the convenience of dedicated laundry, along with its own covered porch. The property also includes a separate maintenance unit/storage area with a bathroom, offering additional utility and flexibility for ownership or property operations.

The property does need some TLC, including vinyl siding repairs and remodeling, making this an attractive opportunity for an investor looking to improve the property and add value while maintaining an established income stream. With strong rents, multiple bedrooms per unit, dedicated laundry, covered porches, and additional storage space, 280 High St offers a compelling combination of current cash flow and future potential.

Bring your vision and capitalize on the opportunity to improve and maximize this Lewiston multifamily property. *Property is being sold as-is and likely does not qualify for some loan types in its current condition. Interior photos were taken a year ago prior to currant tenancy.

Monthly Cost Estimate

$2,647/mo

20% down · 6.5% · 30 years

Principal$358
Interest$2,145
Insurance$144

Estimates only. Actual payments may vary.

Location

280 Pine Street

Lewiston, ME 04240

Features & Amenities

Interior Features

In-Law Apartment1st Floor BedroomBathtub

Property Details

Flooring

VinylWoodLaminateLinoleum

Construction

Wood Frame Vinyl Siding

Outdoor Features

Porch

Heating

Other (Heating)Hot Water(Heating)RadiantNatural Gas

Questions & Answers

This 0-bedroom, 3-bathroom residential multi family at 280 Pine Street is listed at $495,000 ($92/sqft). The estimated monthly payment is $2,647 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1922, 0.15 acre lot. Interior Features: In-Law Apartment, 1st Floor Bedroom, Bathtub.

This property is listed by Dustin Mallar and can be reached at 2075130373.

DM

Dustin Mallar

Agent at Maine Source Realty

(207) 513-0373
Agent website

Listed by Maine Source Realty · Broker phone: 207-998-4101 · View on Broker Site · Broker website

MLS# 1680737· Source: Maine Listings· 34 days on PropertySimple

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280 Pine Street, Lewiston, ME 04240

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