Remodeled Two-Unit Multi-Family
230 Oak Street Lewiston, ME 04240
New
230 Oak Street, Lewiston, ME, 04240
$289,000
For Sale
$289,000
MULTI_FAMILY - Lewiston, ME
Property Size1,022 SF
Lot Size0.13 Acres
Price / SF$282.78
Days on Market1
Property Features for 230 Oak Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 2, Bathroom 1
- Parking features
- Off Street
- Interior features
- Bathtub
- Basement
- Unfinished
- Standard status
- Active
- Size
- 1,022 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2118
Utilities
- Sewer type
- Public Sewer
- Heating system
- Propane (Heating), Electric (Heating), Forced Air
- Water source
- Public
Building Details
- Year built
- 1901
- Number of units
- 2
- Flooring type
- Carpet, Wood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle, Metal
Listing Agency
Keller Williams Realty
(207) 879-9800
50 Sewall Street, Portland, ME
Listed by
Richard Dow
(207) 332-3741
Added: Jul 16 Checked: Jul 16 at 5:06 pm
MLS# 1663321
Listing URL
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 fully remodeled two-unit multi-family home offers a turn-key setup for both investors and owner-occupants. The property features two separate units, and each unit includes one bedroom and a full bath. Improvements include a newer roof and an updated furnace, and the home also offers a private backyard.
Located in Lewiston, the property is just minutes from Central Maine Medical Center and less than 5 minutes from both Bates College and Central Maine Community College, supporting a practical live-work-or-rent mix for tenants.
The home includes a total size of 1,022 square feet on a 0.13-acre lot. An open house is scheduled for Saturday (7/11) from 9:30am to 11:00am, and seller concessions are available, including a rate buy down (ask for details).
Located in Lewiston, the property is just minutes from Central Maine Medical Center and less than 5 minutes from both Bates College and Central Maine Community College, supporting a practical live-work-or-rent mix for tenants.
The home includes a total size of 1,022 square feet on a 0.13-acre lot. An open house is scheduled for Saturday (7/11) from 9:30am to 11:00am, and seller concessions are available, including a rate buy down (ask for details).
Key Highlights
- 2‑unit multi‑family home with both units offering 1 bedroom and a full bath
- Year built 1901; wood frame construction with vinyl siding
- Newer roof plus updated furnace; heating includes propane and electric forced‑air systems
Local Financial Insights For Multifamily LT 5
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 | $14.6k | $14.28 |
| − Vacancy | −$194 | −$0.19 |
| EGI | $14.4k | $14.09 |
| − OpEx | −$4.3k | −$4.23 |
| NOI | $10.1k | $9.86 |
1,022 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$144.0K
$126.0K – $168.0K
NOI $10,080 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$136.8K
$119.7K – $159.6K
NOI $9,577 @ 7.0% cap · market cap 3.31%
Theoretical Best
Warehouse
$1.82M
$1.59M – $2.12M
NOI $127,060 @ 7.0% cap · market cap 43.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully remodeled two-unit home with 1-bedroom/1-bath layouts, newer roof, updated furnace, and a private backyard.
Where is this duplex located?
The property is located at 230 Oak Street Lewiston, ME.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 2‑unit multi‑family home with both units offering 1 bedroom and a full bath; Year built 1901; wood frame construction with vinyl siding; Newer roof plus updated furnace; heating includes propane and electric forced‑air systems
