Triplex with Detached
For Sale
$399,900
171-175 Walnut Street, Lewiston, ME 04240
Three apartments occupy one parcel, with a neighboring vacant parcel adding outdoor space.
Property Size3,124 SF
Price / SF$128.01
Days on Market114
Property Features for 171-175 Walnut Street
General Information
Standard status
Active
Size
3,124 SF
Total Parking Spaces
6
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 3BR, 2 x 1BR
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,050
Amenities
balcony decks
rear porches
Building Details
Building Size
3,124 SF
Year Built
1926
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Deborah Meek
(207) 553-2662
Source:
Hoangrealty
Added: Jul 16
Changed: Nov 3
Last Checked: Nov 6 at 8:23AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 3,124-square-foot triplex, built in 1926, contains three apartments: one with three bedrooms and two with one bedroom each. The three-bedroom unit and one one-bedroom unit are occupied; the lower-level rear apartment is vacant. Recent improvements and features include a new roof, balcony decks, rear porches, and a detached two-car garage. Parking accommodates up to 6 vehicles.
The property comprises two parcels. The adjoining vacant parcel has garden space and is identified as offering potential subject to approvals.
The property comprises two parcels. The adjoining vacant parcel has garden space and is identified as offering potential subject to approvals.
Key Highlights
- Three apartments across two parcels
- 3,124 square feet; built in 1926
- One three‑bedroom apartment and two one‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,812
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,240
$616.2K
Cap Rate 7%
$440,171
$440.2K
Cap Rate 9%
$342,356
$342.4K
Market Conditions
NOI Build-Up for 3,124 SF
Gross rent
$44.6K $14.28/SF
− Vacancy
−$593 −$0.19/SF
EGI
$44.0K $14.09/SF
− OpEx
−$13.2K −$4.23/SF
NOI
$30.8K $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%
$616,240
Cap Rate 7%
$440,171
Cap Rate 9%
$342,356
Alternative Uses
Best Use
Multifamily LT 5
$440.2K
$385.2K – $513.5K
NOI $30,812 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$418.2K
$365.9K – $487.9K
NOI $29,275 @ 7.0% cap · market cap 7.32%
Theoretical Best
Warehouse
$5.55M
$4.85M – $6.47M
NOI $388,392 @ 7.0% cap · market cap 97.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,495
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
$214,200
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Androscoggin County, ME
Properties on Market for Triplexes in Androscoggin County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments occupy one parcel, with a neighboring vacant parcel adding outdoor space.
Where is this triplex located?
The property is located at 171-175 Walnut Street Lewiston, ME.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three apartments across two parcels; 3,124 square feet; built in 1926; One three‑bedroom apartment and two one‑bedroom apartments
