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127 Howe Street
Lewiston, ME 04240
Asking Price
Contact for price
Asset Type
Multifamily
Class
Class B
What's Special
Market Rate Multi-Family Asset Located in the Heart of Downtown Lewiston <p>• 5 market-rate units, fully furnished</p><p>• Rear building fully gut-renovated (2021)</p><p>• Modern LVP flooring & tile finishes throughout</p><p>• In-unit laundry in all units</p><p>• Ample off-street parking (15+ spaces)</p><p>• Surplus land: supports 5 additional units</p><p>• 11.2% cap rate on pro forma NOI, 9.9% cap with Mgmt & Reserves allowance</p><p>• Lot may be subdivided into two 5-unit sites</p><p>• Downtown Residential (DR) zoning</p><p>• Steps to shops, restaurants & services
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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547
