Updated 4-Unit
For Sale
$397,000
146 Sabattus Street, Lewiston, ME 04240
Four occupied apartments are complemented by recent exterior, heating, porch, and fire-door improvements.
Property Size2,468 SF
Price / SF$160.86
Days on Market193
Property Features for 146 Sabattus Street
General Information
Standard status
Active
Size
2,468 SF
Property subtype
Multi Family Home
Zoning
NCB
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,209
Building Details
Building Size
2,468 SF
Year Built
1871
Units
4
Listing Agency:
Meservier & Associates
(207) 784-2525
Listed By:
Glenn Garry
(207) 344-8826
Source:
Integrityhomesrealestategroup
Added: Apr 28
Changed: Nov 5
Last Checked: Nov 6 at 3:28AM
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 Meservier & Associates
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Investment Insights
Based on property information with market context.
This 2,468-square-foot quadplex contains four apartments and was built in 1871. All units are occupied, and tenant rents are current. Improvements include a roof and siding installed in 2018, a furnace added around 2019, an exterior porch completed in 2023, and fire doors on every apartment installed in 2024.
The property is at 146 Sabattus Street in Lewiston, Maine. Shopping, dining, and public transportation are nearby. Zoning is NCB.
The property is at 146 Sabattus Street in Lewiston, Maine. Shopping, dining, and public transportation are nearby. Zoning is NCB.
Key Highlights
- Four occupied apartments with current tenant rents
- 2,468‑square‑foot building constructed in 1871
- Roof and siding installed in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,342
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,840
$486.8K
Cap Rate 7%
$347,743
$347.7K
Cap Rate 9%
$270,467
$270.5K
Market Conditions
NOI Build-Up for 2,468 SF
Gross rent
$35.2K $14.28/SF
− Vacancy
−$469 −$0.19/SF
EGI
$34.8K $14.09/SF
− OpEx
−$10.4K −$4.23/SF
NOI
$24.3K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,840
Cap Rate 7%
$347,743
Cap Rate 9%
$270,467
Alternative Uses
Best Use
Multifamily LT 5
$347.7K
$304.3K – $405.7K
NOI $24,342 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$330.4K
$289.1K – $385.5K
NOI $23,127 @ 7.0% cap · market cap 5.83%
Theoretical Best
Warehouse
$4.38M
$3.84M – $5.11M
NOI $306,835 @ 7.0% cap · market cap 77.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,227
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments are complemented by recent exterior, heating, porch, and fire-door improvements.
Where is this quadplex located?
The property is located at 146 Sabattus Street Lewiston, ME.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Four occupied apartments with current tenant rents; 2,468‑square‑foot building constructed in 1871; Roof and siding installed in 2018
