Renovated Three-Unit Income
128 Horton Street Lewiston, ME 04240
For Sale
$530,000
Renovated three-unit building with two 3-bedroom units and one 2-bedroom unit, featuring new systems and move-in readiness.
Property Size3,663 SF
Price / SF$144.69
Days on Market65
Property Features for 128 Horton Street
General Information
- Standard status
- Active
- Size
- 3,663 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1903
Listing Agency:
Freedom Realty
(207) 408-5875
Listed By:
Joseph De La Cruz
(207) 408-5875
Source:
Compass
Added: May 20
Changed: Jul 21
Last Checked: Jul 23 at 10:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Freedom Realty
Investment Insights
Based on property information with market context.
This renovated three-unit income property includes two 3-bedroom units and one 2-bedroom unit. The building has new systems and is described as move-in ready with no deferred maintenance.
The property is located in a high-density neighborhood with strong rental demand and is presented as a proven income producer.
The current configuration offers a mix of unit sizes, which may appeal to tenants looking for either three- or two-bedroom housing.
The property is located in a high-density neighborhood with strong rental demand and is presented as a proven income producer.
The current configuration offers a mix of unit sizes, which may appeal to tenants looking for either three- or two-bedroom housing.
Key Highlights
- Renovated 3‑unit building with two 3‑bedroom units and one 2‑bedroom unit
- New systems reported; move‑in ready with no deferred maintenance
- Year built: 1903
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 | $52.3k | $14.28 |
| − Vacancy | −$696 | −$0.19 |
| EGI | $51.6k | $14.09 |
| − OpEx | −$15.5k | −$4.23 |
| NOI | $36.1k | $9.86 |
3,663 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$516.1K
$451.6K – $602.1K
NOI $36,128 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$490.4K
$429.1K – $572.1K
NOI $34,326 @ 7.0% cap · market cap 6.48%
Theoretical Best
Warehouse
$6.51M
$5.69M – $7.59M
NOI $455,403 @ 7.0% cap · market cap 85.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Renovated three-unit building with two 3-bedroom units and one 2-bedroom unit, featuring new systems and move-in readiness.
Where is this triplex located?
The property is located at 128 Horton Street Lewiston, ME.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Renovated 3‑unit building with two 3‑bedroom units and one 2‑bedroom unit; New systems reported; move‑in ready with no deferred maintenance; Year built: 1903
