Four-Unit Building with
For Sale
$550,000
26-28 Wilson Street, Lewiston, ME 04240
Four two-bedroom apartments include individual basement storage and laundry hookups.
Property Size3,614 SF
Price / SF$152.19
Days on Market93
Property Features for 26-28 Wilson Street
General Information
Standard status
Active
Size
3,614 SF
Property subtype
Multi Family Home
Zoning
NCA
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,156
Amenities
hardwood flooring
dedicated storage
laundry hookups
rear porches
Storage
Building Details
Building Size
3,614 SF
Year Built
1950
Buildings
1
Stories
2
Units
4
Construction
4-Square
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
Listed By:
Mark Pilot
(207) 782-8311
Source:
Integrityhomesrealestategroup
Added: Aug 6
Changed: Nov 5
Last Checked: Nov 6 at 3:29AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
Configured as four apartments, this 3,614-square-foot multifamily property offers two bedrooms in each unit, hardwood floors, and kitchens with access to exterior porches. The basement provides dedicated storage and laundry hookups for every apartment, along with additional finished space. Built in 1950, the building is zoned NCA and includes off-street parking.
The property is at 26-28 Wilson Street in Lewiston, with hospitals, shopping, and recreation described as nearby. Its layout and unit configuration were designed for four separate households.
The property is at 26-28 Wilson Street in Lewiston, with hospitals, shopping, and recreation described as nearby. Its layout and unit configuration were designed for four separate households.
Key Highlights
- Four apartments, each with 2 bedrooms
- 3,614 square feet; built in 1950
- Basement storage and laundry hookups assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,645
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,900
$712.9K
Cap Rate 7%
$509,214
$509.2K
Cap Rate 9%
$396,056
$396.1K
Market Conditions
NOI Build-Up for 3,614 SF
Gross rent
$51.6K $14.28/SF
− Vacancy
−$686 −$0.19/SF
EGI
$50.9K $14.09/SF
− OpEx
−$15.3K −$4.23/SF
NOI
$35.6K $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%
$712,900
Cap Rate 7%
$509,214
Cap Rate 9%
$396,056
Alternative Uses
Best Use
Multifamily LT 5
$509.2K
$445.6K – $594.1K
NOI $35,645 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$483.8K
$423.3K – $564.5K
NOI $33,867 @ 7.0% cap · market cap 6.16%
Theoretical Best
Warehouse
$6.42M
$5.62M – $7.49M
NOI $449,311 @ 7.0% cap · market cap 81.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
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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 two-bedroom apartments include individual basement storage and laundry hookups.
Where is this quadplex located?
The property is located at 26-28 Wilson Street Lewiston, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms; 3,614 square feet; built in 1950; Basement storage and laundry hookups assigned to each unit
