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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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37 Union St , Lewiston, ME 04240
$969,000
Est. Payment: $2,153.33/mo
0 Bed
10 Bath
7200 Sqft
Status: Active | Days on site: 72
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1898 - 023801,020913
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House Description

Turnkey 10-unit investment opportunity in the heart of Lewiston. 37 Union Street has undergone an extensive renovation, with all ten apartments receiving significant interior updates including new flooring, updated kitchens, renovated bathrooms, fresh finishes, and modernized living spaces. The unit mix offers a strong blend of 1-bedroom, 2-bedroom, and 3-bedroom apartments, providing broad tenant appeal and helping reduce vacancy risk. Beyond the cosmetic improvements, major capital expenditures have already been completed. The property features two brand-new heating systems, two new hot water heaters, and a roof that has been professionally inspected and deemed to be in good condition. Investors can take comfort knowing many of the costly deferred maintenance items have already been addressed. Currently generating $12,613 per month in rental income, this asset offers immediate cash flow with the potential benefits of a fully stabilized and updated building. Many of the apartments showcase attractive hardwood floors, original architectural details, built-ins, and spacious layouts that tenants appreciate, while the updated systems help minimize future maintenance concerns. Conveniently located in Lewiston, residents enjoy easy access to local employers, restaurants, shopping, public transportation, and the ongoing redevelopment occurring throughout the city. The property is also just minutes from Bates College, Central Maine Medical Center, and the Auburn-Lewiston commercial corridor, making it a desirable location for a wide range of tenants. Whether you're looking to expand an existing portfolio or acquire a large multifamily property with substantial renovations already completed, 37 Union Street presents a rare opportunity to purchase a cash-flowing 10-unit building with major updates already in place.

Highlights

Listed by Daniel Weber Nicholas Laverriere , 207-284-3043 and Daniel Weber , 207-332-0792 Keller Williams Realty , 207-879-9800.

Property Type

Multi-Family

Lot/Acreage
0.12

Year Built

1916

County

Androscoggin

Listing ID

1667692

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:10
  • Full Bathrooms:10
Floor:Vinyl,Wood
Above Ground Sq Ft:7200
Below Ground Sq Ft:0
Basement:Interior Entry,Finished,Partial,Unfinished
Water:Public

Exterior Features

Lot:Near Turnpike/Interstate,Near Town,Neighborhood,Level,Open Lot
Zoning:Unknown
Roof:Flat,Membrane
Sewer:Public Sewer
Parking Features:Gravel,Off Street
Principal Interest
$2,153
Taxes
$538

Home Price

$969,000

Loan Details

30 yrs
%

Down Payment

20%
$193,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,153.33

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,153.33 $537.83 $0.00 $2,691.17
Yearly $25,840.00 $6,454.00 $0.00 $32,294.00
Total $775,200.00 $193,620.00 $0.00 $968,820.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Lewiston, ME).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.