135 Bartlett StLewiston, ME 04240

Property Details for 135 Bartlett St

Year built

1891

Lot size

0.11 AC

Property size (Sq ft)

3,600 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a five-unit apartment building situated at 135 Bartlett St, Lewiston, ME 04240. The property boasts a total of 3,600 square feet and sits on a 0.11-acre lot, zoned DR. Built in 1891, this three-story building comprises five units: three two-bedroom units and two one-bedroom units. The property includes a convenient five-car parking lot. The asking price is $399,000, translating to $79,800 per unit and a price per square foot of $110.83. The current Net Operating Income (NOI) stands at $43,389, yielding an attractive 10.87% capitalization rate. This value-add investment is located in a rapidly developing area of Lewiston, presenting significant potential for future appreciation and increased rental income. The property's strong cash flow and prime location make it an ideal addition to any investor's portfolio. This is a rare opportunity to acquire a well-situated multifamily property in a thriving Maine market. The building's solid foundation and established tenancy provide a stable income stream, while the potential for renovations and upgrades offers further upside. Don't miss this chance to secure a profitable investment in a dynamic Lewiston neighborhood.

Location Insight

City

Lewiston

County

Androscoggin

State

Maine

Latitude

44.0956

Longitude

-70.2103

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