Three-Unit Multifamily on Double
171 Walnut Street Lewiston, ME 04240
New
171 Walnut Street, Lewiston, ME, 04240
$450,000
For Sale
$450,000
MULTI_FAMILY - Lewiston, ME
Property Size3,124 SF
Lot Size0.22 Acres
Price / SF$144.05
Days on Market1
Property Features for 171 Walnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NCA
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 1, Basement, Bathroom 3
- Parking features
- Open, Off Street
- Patio and Porch features
- Porch, Deck
- Interior features
- 1st Floor Bedroom, Bathtub, Shower, Storage
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,124 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 25
- Tax Annual Amount
- 5050
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Hot Water(Heating), Oil, Other (Heating), Steam
- Cooling system
- Wall Unit(s)
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1926
- Number of units
- 3
- Flooring type
- Wood, Carpet, Vinyl
- Building materials
- Wood Frame, Vinyl Siding, Wood Siding
- Roof type
- Shingle, Membrane
- Additional Structures
- Storage
Listing Agency
Keller Williams Realty
(207) 879-9800
50 Sewall Street, Portland, ME
Listed by
Deborah Meek
(207) 553-2662
Added: Jul 16 Checked: Jul 16 at 4:06 pm
MLS# 1672103
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 well-maintained three-unit multifamily (triplex) offers a practical mix of living sizes, with two one-bedroom units on the first floor and a spacious three-bedroom apartment on the second floor. Each unit includes in-unit laundry and generous storage, with comfortable living spaces throughout. The exterior is finished with low-maintenance vinyl siding, and major capital improvements are already in place, including a brand-new roof (July 2026), newer furnace, and replacement windows.
Set on a rare double lot at 171 Walnut Street in Lewiston, this property provides abundant off-street parking for tenants and guests, along with a detached two-car garage for additional parking, storage, or workshop use. Zoning is listed as NCA.
With approximately 3,124 square feet of living area, the building is configured for stable in-place rental income, supported by the completed improvements and the flexible unit mix.
Set on a rare double lot at 171 Walnut Street in Lewiston, this property provides abundant off-street parking for tenants and guests, along with a detached two-car garage for additional parking, storage, or workshop use. Zoning is listed as NCA.
With approximately 3,124 square feet of living area, the building is configured for stable in-place rental income, supported by the completed improvements and the flexible unit mix.
Key Highlights
- 3‑unit building built in 1926 with over 3,000 sq ft of living space
- Two 1‑bedroom units on the 1st floor plus a spacious 3‑bedroom apartment on the 2nd floor
- In‑unit laundry plus storage in each unit
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 | $44.6k | $14.28 |
| − Vacancy | −$593 | −$0.19 |
| EGI | $44.0k | $14.09 |
| − OpEx | −$13.2k | −$4.23 |
| NOI | $30.8k | $9.86 |
3,124 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$440.2K
$385.2K – $513.5K
NOI $30,812 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$418.2K
$365.9K – $487.9K
NOI $29,275 @ 7.0% cap · market cap 6.51%
Theoretical Best
Warehouse
$5.55M
$4.85M – $6.47M
NOI $388,392 @ 7.0% cap · market cap 86.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-unit building with in-unit laundry, generous storage, and off-street parking on a double lot.
Where is this triplex located?
The property is located at 171 Walnut Street Lewiston, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3‑unit building built in 1926 with over 3,000 sq ft of living space; Two 1‑bedroom units on the 1st floor plus a spacious 3‑bedroom apartment on the 2nd floor; In‑unit laundry plus storage in each unit
