54 Pierce Street

Lewiston, ME 04240

MLS ID# 1559901 Closed

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Closed $359,000

4648 sqft

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• Description
• Location Information
• Property Information
• Compensation & Misc Info
• Remarks
• Details
• Virtual Tour 1

Description

Introducing an incredible investment opportunity! This 6-unit multi-family property is a fantastic value proposition for savvy investors. With a proven rental history and impressive income potential, it promises a solid return on investment. Each unit offers spacious layouts and abundant natural light, ensuring comfortable living spaces for tenants. Located in a downtown setting, this property provides convenient access to nearby amenities, including shopping centers, dining options, and public transportation. Its strategic location also allows for easy commuting and attracts a diverse pool of tenants. With its strong rental demand and desirable location, this multi-family property is a smart choice for those looking to maximize their investment potential. This property presents a promising opportunity for both seasoned investors and those new to real estate. Whether you're expanding your portfolio or entering the market, this 6-unit multi-family property offers an excellent chance to secure consistent cash flow and long-term growth. Don't miss out on this lucrative venture that combines affordability, tenant appeal, and a prime location. Act now and seize this remarkable investment opportunity! Introducing an incredible investment opportunity! This 6-unit multi-family property is a fantastic value proposition for savvy investors. With a proven rental history and impressive income potential, it promises a solid return on investment. Each un... show more

Location Information

• Street # 54
• Street Name Pierce
• Street Type Street
• County Androscoggin
• Town Lewiston
• State/Province ME
• Zip Code 04240
• Zip +4 8058
• Leased Land No
• Book 11097
• Page 156-157
• Map 195
• Lot 501
• Zoning DR
• Zoning Overlay Yes
• Tax ID LEWI-000195-000000-000501
• Association No
• Full Tax Amount 3950
• Tax Year 2022

Property Information

• Surveyed Unknown
• Seasonal No
• Deed/Conveyance Type Offered Quit Claim w/Covenant
• Deed All
• Deed Restrictions Unknown
• 2 Detached Houses on 1 Lot No
• Number of Units 6
• Total Baths 6
• Total Full Baths 6
• Total Half Baths 0
• Year Built 1863
• SqFt Finished Above Grade 4648
• SqFt Finished Below Grade 0
• SqFt Finished Total 4648
• Garage No
• Lot Size Acres +/- 0.1
• Source of Acreage Public Records
• Road Frontage Yes
• Road Frontage +/- 42
• Source of Road Frontage Public Records

Compensation & Misc Info

• Buyer Agency 2%

Directions

Gps Friendly

Details

• Site

  Level, Sidewalks

• Roads

  Paved, Public

• Water Info

  No Water Frontage, No Water View

• Income & Expenses

  Gross Income:95472, Operating Expenses:34870

• Units

  # of 1 BD Units:0, # of 2 BD Units:0, # of 3 BD Units:6, # of 4+ BD Units:0

• Unit 1

  Lease, Level:First, Security Deposit, Monthly Rent:1550, # Full Baths:1, # of Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 2

  No Lease, Level:Second, No Security Deposit, Monthly Rent:0, # Full Baths:1, # Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 3

  Lease, Level:Third, Security Deposit, Monthly Rent:1200, # Full Baths:1, # Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 4

  Lease, Level:First, Security Deposit, Monthly Rent:1000, # Full Baths:1, # Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 5

  Lease, Level:Second, Security Deposit, Monthly Rent:1450, # Full Baths:1, # Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Unit 6

  Lease, Level:Third, Security Deposit, Monthly Rent:1200, # Full Baths:1, # Half Baths:0, Dedicated Electric Meter, No Dedicated Gas Meter, No Dedicated Water Heater, No Electric, Heat, Range, Refrigerator, Sewer, Water

• Style

  Multi-Level, Other Style

• Construction

  Wood Frame

• Basement

  Full, Unfinished

• Basement Entry

  Interior

• Exterior

  Vinyl Siding

• Roof

  Flat

• Heat System

  Baseboard

• Heat Fuel

  Gas Bottled, Gas Natural

• Water Heater

  Gas

• Cooling

  None

• Floors

  Other, Vinyl, Wood

• Driveway

  Common, Paved

• Parking

  11 - 20 Spaces, Off Street, On Site

• Vehicle Storage

  No Vehicle Storage

• Electric

  Circuit Breakers

• Utilities

  Utilities On

• Gas

  Natural - At Street

• Sewer

  Public Sewer

• Water

  Public

• Sold Info

  Buyer's Zip Code:04243, Seller Contributions:5000, Appraiser:018200, Appraiser Name:Joshua Herlihy, Appraiser Phone Number:207-754-5903, Appraiser Email Address:[email protected]

• Sold Terms

  Conventional

• Sold Terms Other

  Not Applicable