Three-Unit Multifamily Property with
71 Warren Avenue Lewiston, ME 04240
71 Warren Avenue, Lewiston, ME, 04240
$325,000
For Sale
$325,000
Triplex with studio, one-bedroom, and two-bedroom units; each has in-unit laundry, plus fenced yard and off-street parking.
Property Size1,720 SF
Price / SF$188.95
Days on Market38
Property Features for 71 Warren Avenue
General Information
- Standard status
- Active
- Size
- 1,720 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1897
Listing agency
Portside Real Estate Group
(207) 485-4400
Listed by
Heather Szela
(207) 485-4400
Source
Compass
Added: Jun 16 Updated: Jul 22 at 6:53PM Checked: Jul 22 at 6:53PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This three-unit multifamily property includes a studio, a one-bedroom, and a spacious two-bedroom apartment. One unit is currently vacant, offering flexibility for an owner-occupant or a buyer looking to lease the space. Each unit features its own laundry. Outside, the property includes a detached one-car garage, a fenced yard, and ample off-street parking.
Recent improvements include a new electrical panel, along with renovations and updates to interior units, including a renovated third-floor unit and updates to the first-floor apartment.
With a well-diversified unit mix and dedicated laundry for each home, the property at 71 Warren Avenue, Lewiston, ME 04240 is positioned for straightforward living or rental use.
Recent improvements include a new electrical panel, along with renovations and updates to interior units, including a renovated third-floor unit and updates to the first-floor apartment.
With a well-diversified unit mix and dedicated laundry for each home, the property at 71 Warren Avenue, Lewiston, ME 04240 is positioned for straightforward living or rental use.
Key Highlights
- 3‑unit multifamily triplex with a studio, 1‑bedroom, and 2‑bedroom apartment
- One unit currently vacant; remaining units each include in‑unit laundry
- Detached 1‑car garage, fenced yard, and ample off‑street parking
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 | $24.6k | $14.28 |
| − Vacancy | −$327 | −$0.19 |
| EGI | $24.2k | $14.09 |
| − OpEx | −$7.3k | −$4.23 |
| NOI | $17.0k | $9.86 |
1,720 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$242.3K
$212.1K – $282.7K
NOI $16,964 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$230.3K
$201.5K – $268.6K
NOI $16,118 @ 7.0% cap · market cap 4.96%
Theoretical Best
Warehouse
$3.05M
$2.67M – $3.56M
NOI $213,839 @ 7.0% cap · market cap 65.80%
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 - Triplex with studio, one-bedroom, and two-bedroom units; each has in-unit laundry, plus fenced yard and off-street parking.
Where is this triplex located?
The property is located at 71 Warren Avenue Lewiston, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3‑unit multifamily triplex with a studio, 1‑bedroom, and 2‑bedroom apartment; One unit currently vacant; remaining units each include in‑unit laundry; Detached 1‑car garage, fenced yard, and ample off‑street parking
