78 Howard Street Lewiston, ME 04240

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.