Managed Apartment Investment
For Sale
$570,000
78 Howard Street, Lewiston, ME 04240
Professionally managed multifamily property in Lewiston offered with an investor-friendly path toward stabilization.
Property Size7,200 SF
Price / SF$79.17
Days on Market95
Property Features for 78 Howard Street
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Multi-family
Financials
Cap Rate
10%
Business Included
Yes
Building Details
Year Built
1925
Listing Agency:
Keller Williams Realty
(207) 740-8577
Listed By:
Malachi Winslow · License #925500
(603) 866-2942
Source:
Profoundrealestate
Added: May 28
Changed: Aug 28
Last Checked: Aug 30 at 6:16PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
78 Howard Street is a multifamily residential income property in Lewiston being sold with professional management already in place. The major expenses have already been handled, and the property has not been so heavily upgraded that it eliminates potential for additional improvement. The seller notes that a new investor can make light changes and address any vacancy to move the property toward stabilization while keeping the existing management relationship working smoothly.
Open houses are scheduled for Friday the 5th from 4:30 to 6:00 p.m. and Saturday the 6th from 11:00 a.m. to 12:00 p.m. The listing emphasizes a low-friction acquisition for buyers who want to avoid re-interviewing management, recreating records, or adding personnel.
For investors seeking an accessible entry point, this offering is positioned as a straightforward continuation of current operations with the same management team interested in staying on. The seller’s underwriting statement suggests that once the property is filled at market rent, the deal is expected to be around a 10% cap rate. The property is listed for $585,000, with the stated strategy focused on light updates and vacancy resolution rather than a full operational reset.
Open houses are scheduled for Friday the 5th from 4:30 to 6:00 p.m. and Saturday the 6th from 11:00 a.m. to 12:00 p.m. The listing emphasizes a low-friction acquisition for buyers who want to avoid re-interviewing management, recreating records, or adding personnel.
For investors seeking an accessible entry point, this offering is positioned as a straightforward continuation of current operations with the same management team interested in staying on. The seller’s underwriting statement suggests that once the property is filled at market rent, the deal is expected to be around a 10% cap rate. The property is listed for $585,000, with the stated strategy focused on light updates and vacancy resolution rather than a full operational reset.
Key Highlights
- Professionally managed multifamily property at 78 Howard Street in Lewiston
- Built in 1925
- Under professional management with many major expenses already taken care of
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,224
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Professionally managed multifamily property in Lewiston offered with an investor-friendly path toward stabilization.
Where is this multifamily property located?
The property is located at 78 Howard Street Lewiston, ME.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Professionally managed multifamily property at 78 Howard Street in Lewiston; Built in 1925; Under professional management with many major expenses already taken care of
