3-Unit Triplex with Rear
20 Summer Street, Lewiston, ME 04240
For Sale
$410,000
Each apartment has three bedrooms, one full bath, and its own rear deck.
Property Size3,588 SF
Price / SF$114.27
Days on Market131
Property Features for 20 Summer Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private rear deck
Building Details
Building Size
Year Built
Units
Listing Agency:
Breakwater Realty Group, LLC
Listed By:
Matthew Freedman
(207) 712-4041
Source:
Amerorealty
Added: Jul 2
Changed: Nov 7
Last Checked: Nov 8 at 5:43PM
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 Breakwater Realty Group, LLC
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Investment Insights
Based on property information with market context.
This 3,588-square-foot triplex at 20 Summer Street in Lewiston contains three apartments. Each unit has three bedrooms, one full bath, and a private rear deck. The property was built in 1926 and is zoned NCB.
Shopping, restaurants, schools, major employers, and a local hospital are described as being a short drive away.
Shopping, restaurants, schools, major employers, and a local hospital are described as being a short drive away.
Key Highlights
- Three apartments, each with 3 bedrooms and 1 full bath
- Private rear deck for each apartment
- 3,588 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,389
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,780
$707.8K
Cap Rate 7%
$505,557
$505.6K
Cap Rate 9%
$393,211
$393.2K
Market Conditions
NOI Build-Up for 3,588 SF
Gross rent
$51.2K $14.28/SF
− Vacancy
−$681 −$0.19/SF
EGI
$50.6K $14.09/SF
− OpEx
−$15.2K −$4.23/SF
NOI
$35.4K $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%
$707,780
Cap Rate 7%
$505,557
Cap Rate 9%
$393,211
Alternative Uses
Best Use
Multifamily LT 5
$505.6K
$442.4K – $589.8K
NOI $35,389 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$480.3K
$420.3K – $560.4K
NOI $33,623 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.12M
$976.4K – $1.30M
NOI $78,115 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,289
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
$214,200
Median Home Value
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Market
Average Price Trend$/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 - Each apartment has three bedrooms, one full bath, and its own rear deck.
Where is this triplex located?
The property is located at 20 Summer Street Lewiston, ME.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Three apartments, each with 3 bedrooms and 1 full bath; Private rear deck for each apartment; 3,588 square feet
