171 Walnut ST Lewiston, ME 04240
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,124 sqft
Price per Sqft $136
MLS Listing ID 1672103
Full Baths 3
HOA Y/N No
Year Built 1926
Tax Year 25
Lot Size 9,583 Sqft
Acres 0.22
Source Maine Listings
Land Area 3124
Property Description
The property consists of two 1-bedroom units and a spacious 3-bedroom unit, currently vacant and ready to lease at market rent or occupy. The two 1-bedroom units are currently rented at $800 and $1,000 per month--both below prevailing market levels--providing a straightforward path to increased future income. With the 3-bedroom projected at approximately $2,000 per month and opportunity to bring rents closer to market over time, the property offers attractive stabilized income potential.
The fundamentals are equally compelling: a brand new roof, ample off-street parking, a detached 2-car garage, and a property that has been well maintained--important considerations when evaluating the true cost of owning an investment property.
For an investor, this is an opportunity to acquire a solid three-unit with income already in place and identifiable room for growth. For an owner-occupant, the vacant 3-bedroom provides the rare ability to move in while collecting income from day one.
Well maintained. Under-market rents. Immediate leasing opportunity. Clear potential for stronger future returns. Estimated stabilized rents approaching $4500 per month - compelling potential
**Contains some AI enhanced imagery
Location
State ME
County Androscoggin
Zoning NCA
Direction Main Street in Lewiston to Sabbatus St, Rte 126 east to right on Webster St and right on Walnut St. Property on the left. See signage.
Rooms
Basement Interior Entry, Full, Unfinished
Interior
Interior Features 1st Floor Bedroom, Bathtub, Shower, Storage
Heating Oil, Baseboard, Hot Water, Radiator, Steam
Cooling Wall Unit(s)
Flooring Carpet, Vinyl, Wood
Equipment Cable, Internet Access Available
Furnishings Unfurnished
Laundry Washer Hookup
Exterior
Parking Features Paved, 1 - 4 Spaces, On Site, Off Street, Garage Door Opener, Detached
Garage Spaces 2.0
Waterfront Description Nearby,Public,River/Brook/Stream
Roof Type Membrane,Shingle
Porch Deck, Porch, Porch-Screened
Garage Yes
Building
Lot Description Intown, Near Golf Course, Near Shopping, Neighborhood, Subdivided, Open Lot, Rolling Slope, Sidewalks, Landscaped, Near Public Transit
Entry Level Multi-Level
Foundation Poured Concrete, Brick/Mortar
Water Public
Architectural Style Other
Schools
School District Lewiston Public Schools
Others
Tax ID LEWI-000195-000000-000153
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