154 Pine St
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154 Pine St
10 Unit Block of Flats £979,125 (£97,912/Unit) 11.28% Net Initial Yield Lewiston, ME 04240
Investment Highlights
- Rare Newly renovated, Pristine & Efficient Rental Property in Downtown Lewiston, ME
- Highly Favorable DR Zoning, Allowing for Promoting the Improvement of Older Residential Neighborhoods within Downtown
- 3 Story Building w/ 8 1-bedroom units, 1 -3-bedroom unit & 1 efficiency unit including a 1- ADA Compliant Unit
- Fully Occupied
- 2024 Renovations of building & Construction of 2 units.
- New Heating System/Cooling Systems, New Electrical, New Plumbing
Executive Summary
Discover an exceptional investment opportunity with this completely renovated 10-unit building in the heart of Lewiston, Maine. Ideal for the discerning investor, this property offers a hassle-free, turn-key solution with modern amenities and low maintenance demands. Property includes eight one-bedroom apartments, one three-bedroom unit and one well-appointed studio apartment. Renovations include comprehensive updates from studs in to studs out and roof to basement. Please see attached addendum for the extensive list of renovations. The building was designed and built to have low maintenance and even lower expenses. Built with separate utilities, highly efficient heating and cooling heat pumps, as well as closed cell insulation on all outer walls, and Roxul insulation between every room for soundproofing. This investment property has been meticulously upgraded to ensure a superior living experience for tenants while minimizing upkeep for the owner. Each unit boasts contemporary finishes and functional layouts, making it a highly desirable residence in a thriving community.
Data Room Click Here to Access
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£122,665
|
£26.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£122,665
|
£26.78
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£12,235
|
£2.67
|
| Net Operating Income |
£110,430
|
£24.11
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £122,665 |
| Annual Per SF | £26.78 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £122,665 |
| Annual Per SF | £26.78 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £12,235 |
| Annual Per SF | £2.67 |
| Net Operating Income | |
|---|---|
| Annual | £110,430 |
| Annual Per SF | £24.11 |
Property Facts
Unit Amenities
- Air Conditioning
- Heating
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Wooden Floors
- Deck
- Porch
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 1 | £900.79 | - |
| 1+1 | 8 | £979.12 | - |
| 3+1 | 1 | £1,488 | - |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | LEWI-000195-000000-000301 | Improvements Assessment | £56,241 (2023) |
| Land Assessment | £13,159 (2023) | Total Assessment | £69,400 (2023) |
PROPERTY TAXES
Parcel Number
LEWI-000195-000000-000301
Land Assessment
£13,159 (2023)
Improvements Assessment
£56,241 (2023)
Total Assessment
£69,400 (2023)
zoning
| Zoning Code | MFU (Highly Favorable DR Zoning, Allowing for Promoting the Improvement of Older Residential Neighborhoods within Downtown) |
| MFU (Highly Favorable DR Zoning, Allowing for Promoting the Improvement of Older Residential Neighborhoods within Downtown) |
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154 Pine St
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