22 Unit Multifamiliy Portfolio | 3 Buildings.
Purchase Price: $550,000. Occupancy: 95%
Seller WILL FINANCE | BROKERS ARE PROTECTED.
Sold Separately Or As Package.
Located in an area with Enormous housing demand.
Subject portfolio consists of 22 units across 3 multifamily buildings. Buildings sold individually or as package. The portfolio is 95% occupied, subject properties are in good condition. The buildings have ample off street parking and established property management in place.
The cap rate is around 14% with current rents, could improved to 17% if rents were bumped up to market.
The 3 buildings are located at the following addresses:
74 Pierce St, 93 Shawmut St, 179 Pine St.
This package is located in Lewiston, ME, an area with an enormous housing demand. Lewiston's predominant industries are healthcare, manufacturing, food & beverage. Prominent employers include Central Maine Medical Center, TD Bank, Formed Fiber Technologies, Tambrands, Panolam & L.L. Bean.