Three-Unit Apartment
7 Jack Court, Lewiston, ME 04240
For Sale
$407,000
Each apartment has two bedrooms, with one first-floor unit currently vacant.
Property Size1,998 SF
Price / SF$203.70
Days on Market134
Property Features for 7 Jack Court
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
American Real Estate
(207) 331-5131
Listed By:
Mushreq Alsamraee
(207) 632-9523
Source:
Integrityhomesrealestategroup
Added: Jul 1
Changed: Nov 11
Last Checked: Nov 11 at 2:09AM
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 American Real Estate
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Investment Insights
Based on property information with market context.
Built in 1900, this 1,998-square-foot triplex contains three matching two-bedroom apartments. Two units have monthly leases in place, while the first-floor apartment is vacant. Separate electrical meters, three heating systems, and three hot water heaters serve the property. Zoning is DR.
The property is located in Lewiston, Maine, at 7 Jack Court. A large driveway provides off-street parking.
The property is located in Lewiston, Maine, at 7 Jack Court. A large driveway provides off-street parking.
Key Highlights
- Three apartments, each with two bedrooms
- 1,998 square feet; built in 1900
- Two units occupied under monthly leases; one first‑floor unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,706
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,120
$394.1K
Cap Rate 7%
$281,514
$281.5K
Cap Rate 9%
$218,956
$219.0K
Market Conditions
NOI Build-Up for 1,998 SF
Gross rent
$28.5K $14.28/SF
− Vacancy
−$379 −$0.19/SF
EGI
$28.2K $14.09/SF
− OpEx
−$8.4K −$4.23/SF
NOI
$19.7K $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%
$394,120
Cap Rate 7%
$281,514
Cap Rate 9%
$218,956
Alternative Uses
Best Use
Multifamily LT 5
$281.5K
$246.3K – $328.4K
NOI $19,706 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$267.5K
$234.0K – $312.1K
NOI $18,723 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$621.4K
$543.7K – $725.0K
NOI $43,499 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,973
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
$214,200
Median Home Value
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Market
Average Price Trend$/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 two bedrooms, with one first-floor unit currently vacant.
Where is this triplex located?
The property is located at 7 Jack Court Lewiston, ME.
What is the asking price?
The asking price for this property is $407,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms; 1,998 square feet; built in 1900; Two units occupied under monthly leases; one first‑floor unit vacant
