54 Knox StLewiston, ME 04240

Property Details for 54 Knox St

Year built

1881

Lot size

0.11 AC

Property size (Sq ft)

11,915 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 8-unit apartment building at 54 Knox Street, Lewiston, Maine, presents a compelling investment opportunity. Boasting 11,915 square feet on a 0.11-acre lot, this property offers a strong 6.06% capitalization rate and a Net Operating Income (NOI) of $24,233. Built in 1881, the building is zoned DR and features a price per unit of $50,000 and a price per square foot of $33.57. The asking price for this multifamily property is $400,000. The property's location in Lewiston, Androscoggin County (zip code 04240), provides access to a thriving rental market. While requiring capital improvements, this property presents significant potential for increased rental income and equity growth through strategic renovations and upgrades. The property's strong financials, once stabilized, make it an attractive addition to any portfolio focused on long-term appreciation. The Androscoggin County Assessor's Parcel Number (APN) is LEWI-000196-000000-000261. This is a rare chance to acquire a well-located multifamily asset with substantial upside. Note that seller concessions are available.

Location Insight

City

Lewiston

County

Androscoggin

State

Maine

Latitude

44.0921

Longitude

-70.212

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