Brick Multifamily Residential
19 Wood Street Lewiston, ME 04240
For Sale
$7,350,000
MULTI_FAMILY - Lewiston, ME
Property Size57,362 SF
Lot Size1.32 Acres
Price / SF$128.13
Days on Market18
Property Features for 19 Wood Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NCB
- Bathrooms
- 30
- Rooms
- Bathroom 18, Bathroom 22, Bathroom 24, Bathroom 5, Bathroom 28, Bathroom 19, Bathroom 1, Bathroom 8, Bathroom 14, Bathroom 26, Bathroom 9, Bathroom 30, Bathroom 10, Bathroom 7, Bathroom 4, Bathroom 12, Bathroom 25, Bathroom 6, Bathroom 11, Bathroom 16, Bathroom 23, Bathroom 27, Bathroom 29, Bathroom 13, Bathroom 3, Bathroom 21, Basement, Bathroom 17, Bathroom 15, Bathroom 2, Bathroom 20
- Basement
- Daylight
- Standard status
- Active
- Size
- 57,362 SF
- Lot size
- 1.32 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 40064
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 45
- Flooring type
- Wood, Vinyl, Carpet
- Building materials
- Masonry, Brick
- Roof type
- Membrane, Flat
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Thomas Gadbois · License #BA918504
(207) 409-8339
Added: Jul 7
Last Checked: Jul 24 at 8:06PM
MLS# 1670665
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick multifamily property includes 45 residential units across four studio apartments, 26 one-bedroom units, and 15 two-bedroom units. The building has benefited from extensive capital improvements under the current ownership, including a new elevator system with updated controls, cab, and hydraulics. Both the upper and lower roofs were replaced within the past several years. In addition, 38 units have been substantially renovated with updated flooring, kitchens, bathrooms, appliances, and other modern finishes. On-site parking is also available.
The property is located at 19 Wood Street in Lewiston, Maine, in Androscoggin County. The listing describes the location as being just minutes from Bates College. Zoning is noted as NCB.
For buyers and operators seeking a turn-key apartment community with multiple unit types, this configuration supports a mix of studio, one-bedroom, and two-bedroom tenants. The combination of completed building-wide improvements, unit-level renovations, and on-site parking provides a practical foundation for ongoing property management. The elevator upgrade and roof replacements address major systems and building envelope items, while the renovated unit finishes may help streamline leasing readiness across a substantial portion of the unit mix.
The property is located at 19 Wood Street in Lewiston, Maine, in Androscoggin County. The listing describes the location as being just minutes from Bates College. Zoning is noted as NCB.
For buyers and operators seeking a turn-key apartment community with multiple unit types, this configuration supports a mix of studio, one-bedroom, and two-bedroom tenants. The combination of completed building-wide improvements, unit-level renovations, and on-site parking provides a practical foundation for ongoing property management. The elevator upgrade and roof replacements address major systems and building envelope items, while the renovated unit finishes may help streamline leasing readiness across a substantial portion of the unit mix.
Key Highlights
- Brick masonry multifamily building with 45 residential units: 4 studios, 26 one‑bedroom, and 15 two‑bedroom
- Recent capital improvements include new elevator system with updated controls, cab, and hydraulics
- Upper and lower roofs were replaced within the past several years
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $991.2k | $17.28 |
| − Vacancy | −$13.9k | −$0.24 |
| EGI | $977.3k | $17.04 |
| − OpEx | −$439.8k | −$7.67 |
| NOI | $537.5k | $9.37 |
57,362 SF · lease $17.28/SF/yr · vacancy 1.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.68M
$6.72M – $8.96M
NOI $537,536 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$101.88M
$89.14M – $118.86M
NOI $7,131,545 @ 7.0% cap · market cap 97.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Brick apartment building offering 45 residential units with on-site parking and recent elevator and roof replacements.
Where is this apartment building located?
The property is located at 19 Wood Street Lewiston, ME.
What is the asking price?
The asking price for this property is $7,350,000.
What are key features of this property?
This property features: Brick masonry multifamily building with 45 residential units: 4 studios, 26 one‑bedroom, and 15 two‑bedroom; Recent capital improvements include new elevator system with updated controls, cab, and hydraulics; Upper and lower roofs were replaced within the past several years
