7 Russell Street

Lewiston, ME 04240

MLS ID# 1575854 Active
General Commercial

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$630,000

1.39 acres

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• Description
• Location Information
• Property Information
• Compensation & Misc Info
• Remarks
• Details

Description

Introducing a Lucrative Investment Opportunity in Lewiston, Maine! Nestled in the heart of Lewiston, this mobile home park is a prime investment prospect spread across 1.39 acres. Key Highlights: Prime Location: With 225 feet of frontage on Russell Street and an additional 92 feet along Main Street, this park offers exceptional visibility and accessibility. Current Development: The park currently features 11 developed lots, providing a solid foundation for immediate income generation. Income Potential: The current lot rents stand at $398 per month, with a planned increase to $428 in January, ensuring a steady income stream. Tenants are already aware of the upcoming rent adjustment, making for a smooth transition and improved financial performance. In addition to lot rent, the park owns 10 homes that generate substantial monthly income as well. Owned Homes: This park includes 11 homes, with 10 owned by the park. Six of these homes have all recently undergone renovations, enhancing their appeal and ensuring long-term stability and tenant satisfaction. Expansion Opportunities: Three additional sites can be constructed, conforming to town regulations, bringing the total to 14. This expansion potential represents an opportunity to increase rental income and overall property value. Community Amenities: The park provides a welcoming and secure environment, offering essential amenities for modern living, including access to public utilities and proximity to local services, schools, and shopping centers. This presents an exceptional investment opportunity with immediate income potential and long-term growth. Lewiston's stable real estate market and strategic location make this mobile home park an excellent choice for investors aiming to maximize returns and diversify their real estate portfolio. Don't miss the chance to acquire a promising property with a track record of success. Invest in your future with this mobile home park in Lewiston Introducing a Lucrative Investment Opportunity in Lewiston, Maine! Nestled in the heart of Lewiston, this mobile home park is a prime investment prospect spread across 1.39 acres. Key Highlights: Prime Location: With 225 feet of frontage on... show more

Location Information

• Street # 7
• Street Name Russell
• Street Type Street
• County Androscoggin
• Town Lewiston
• State/Province ME
• Zip Code 04240
• Zip +4 6263
• Leased Land No
• Book 9786
• Page 43
• Map 193
• Lot 119
• Zoning NeighborhoodBusiness
• Zoning Overlay Unknown
• Tax ID LEWI-000193-000000-000119-012702
• Full Tax Amount 6384
• Tax Year 2022
• Association Y/N Yes
• Association Fee 398
• Fee Frequency Paid Monthly

Property Information

• Primary Use General Commercial
• Surveyed Unknown
• Short Sale Continue to Show No
• Deed/Conveyance Type Offered Warranty
• Deed All
• Deed Restrictions Yes
• Bank Owned REO No
• Tenancy Multiple Tenants
• Leases Yes
• SqFt Finished Total 9030
• Lot Size Acres +/- 1.39

Compensation & Misc Info

• Buyer Agency 2%

Directions

GPS Friendly

Details

• Water Info

  No Water Frontage, No Water View

• Construction

  Mobile

• Property Uses

  Mobile/Trailer Park

• Basement

  None

• Foundation Materials

  Gravel/Pad

• Exterior

  Aluminum Siding, Vinyl Siding

• Heat System

  Forced Air

• Heat Fuel

  K-1/Kerosene

• Cooling

  None

• Floors

  Carpet, Laminate, Other, Vinyl

• Parking

  11 - 20 Spaces, Gravel

• Electric

  Circuit Breakers

• Utilities

  Utilities On

• Gas

  No Gas

• Sewer

  Public Sewer

• Water

  Public