Four-Unit Multifamily
For Sale
$425,000
26 Elm St, Lewiston, ME 04240
Historic income property with convenient access to downtown amenities, shopping, employment centers, and major highways.
Property Size2,952 SF
Price / SF$143.97
Days on Market49
Property Features for 26 Elm St
General Information
Standard status
Active
Size
2,952 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1861
Listed By:
Doug Schauf · License #BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 16 at 8:34AM
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 Doug Schauf
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,952 square feet and dates to 1861. The asset is positioned as an income-producing residential property in Lewiston, with a configuration suited to multi-unit ownership.
The property is located near downtown Lewiston and major highway access, with shopping, dining, employment centers, public transportation, and other downtown amenities nearby. Its central setting provides access to a range of everyday services and transportation options.
The property is located near downtown Lewiston and major highway access, with shopping, dining, employment centers, public transportation, and other downtown amenities nearby. Its central setting provides access to a range of everyday services and transportation options.
Key Highlights
- Four‑unit multifamily property
- 2,952 square feet of building area
- Built in 1861
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,116
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,320
$582.3K
Cap Rate 7%
$415,943
$415.9K
Cap Rate 9%
$323,511
$323.5K
Market Conditions
NOI Build-Up for 2,952 SF
Gross rent
$42.2K $14.28/SF
− Vacancy
−$561 −$0.19/SF
EGI
$41.6K $14.09/SF
− OpEx
−$12.5K −$4.23/SF
NOI
$29.1K $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%
$582,320
Cap Rate 7%
$415,943
Cap Rate 9%
$323,511
Alternative Uses
Best Use
Multifamily LT 5
$415.9K
$364.0K – $485.3K
NOI $29,116 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$395.2K
$345.8K – $461.1K
NOI $27,663 @ 7.0% cap · market cap 6.51%
Theoretical Best
Warehouse
$5.24M
$4.59M – $6.12M
NOI $367,008 @ 7.0% cap · market cap 86.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,546
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Historic income property with convenient access to downtown amenities, shopping, employment centers, and major highways.
Where is this quadplex located?
The property is located at 26 Elm St Lewiston, ME.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,952 square feet of building area; Built in 1861
