Three-Unit Multifamily
174 Bates Street Lewiston, ME 04240
174 Bates Street, Lewiston, ME, 04240
$450,000
Pending
For Sale
$450,000
Pending
Well-maintained three-unit property with recently updated, currently occupied units.
Property Size3,434 SF
Days on Market188
Property Features for 174 Bates Street
General Information
- Standard status
- Pending
- Size
- 3,434 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1916
Listing agency
Landing Real Estate
(207) 776-0843
Listed by
Matthew Dame
(207) 776-0843
Source
Compass
Added: Jan 16 Updated: Jul 22 at 3:35AM Checked: Jul 22 at 3:35AM
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 Landing Real Estate
Investment Insights
Based on property information with market context.
Well-maintained three-unit multifamily building with all units recently updated. The property is currently occupied and presents a straightforward residential income configuration.
Located in a convenient Lewiston setting near downtown, shopping, schools, and major routes, providing practical day-to-day access for tenants.
With three separate units in one income property, this building can be considered by owner-occupants or investors seeking a multi-unit asset in an established area.
Located in a convenient Lewiston setting near downtown, shopping, schools, and major routes, providing practical day-to-day access for tenants.
With three separate units in one income property, this building can be considered by owner-occupants or investors seeking a multi-unit asset in an established area.
Key Highlights
- 3‑unit multi‑family property built in 1916
- Recently updated units and currently occupied
- Radiator hot water heating with washer hookup
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 | $49.0k | $14.28 |
| − Vacancy | −$652 | −$0.19 |
| EGI | $48.4k | $14.09 |
| − OpEx | −$14.5k | −$4.23 |
| NOI | $33.9k | $9.86 |
3,434 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$483.9K
$423.4K – $564.5K
NOI $33,870 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$459.7K
$402.3K – $536.3K
NOI $32,180 @ 7.0% cap · market cap 7.15%
Theoretical Best
Warehouse
$6.10M
$5.34M – $7.12M
NOI $426,933 @ 7.0% cap · market cap 94.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-unit property with recently updated, currently occupied units.
Where is this triplex located?
The property is located at 174 Bates 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 multi‑family property built in 1916; Recently updated units and currently occupied; Radiator hot water heating with washer hookup
