154 Pine St Lewiston, ME 04240

This exceptional 10-unit apartment building presents a prime investment opportunity in Lewiston, Maine. Completely renovated in 2024, this Class A property boasts a 100% occupancy rate and a strong net operating income (NOI) of $140,980, yielding an attractive 11.28% cap rate. The asking price is $1,250,000, or $125,000 per unit. Situated on a 0.1-acre lot, the three-story building comprises eight one-bedroom units, one three-bedroom unit, and one studio apartment, including one ADA-compliant unit. Extensive renovations included a complete overhaul from studs out, a new roof, and basement upgrades. Modern amenities include highly efficient heat pumps, closed-cell exterior insulation, and Roxul soundproofing insulation between all interior walls and ceilings. New electrical, plumbing, fire sprinkler system, water heaters, and interior/exterior camera systems were also installed. The property features a private driveway and outdoor porch. Its prime location in downtown Lewiston, within walking distance of Main Street, restaurants, breweries, shops, Bates College, and Central Maine Medical Center, ensures high tenant demand and strong rental income. The favorable DR zoning promotes the improvement of older residential neighborhoods. This turn-key investment offers low maintenance and high returns, making it an ideal addition to any portfolio.