Lewiston
$969,000
37 Union Street
mls: 1667692
Bathrooms: 10
Year Built: 1916
Sq Footage: 14,400
Lot Size: 0.12
Taxes: $6,454
Status: Active

Turnkey 10-unit investment opportunity in the heart of Lewiston. 37 Union Street has undergone an extensive renovation, with all ten apartments receiving significant interior updates including new flooring, updated kitchens, renovated bathrooms, fresh finishes, and modernized living spaces.

Listed by: Keller Williams Realty

Turnkey 10-unit investment opportunity in the heart of Lewiston. 37 Union Street has undergone an extensive renovation, with all ten apartments receiving significant interior updates including new flooring, updated kitchens, renovated bathrooms, fresh finishes, and modernized living spaces. The unit mix offers a strong blend of 1-bedroom, 2-bedroom, and 3-bedroom apartments, providing broad tenant appeal and helping reduce vacancy risk. Beyond the cosmetic improvements, major capital expenditures have already been completed. The property features two brand-new heating systems, two new hot water heaters, and a roof that has been professionally inspected and deemed to be in good condition. Investors can take comfort knowing many of the costly deferred maintenance items have already been addressed. Currently generating $12,613 per month in rental income, this asset offers immediate cash flow with the potential benefits of a fully stabilized and updated building. Many of the apartments showcase attractive hardwood floors, original architectural details, built-ins, and spacious layouts that tenants appreciate, while the updated systems help minimize future maintenance concerns. Conveniently located in Lewiston, residents enjoy easy access to local employers, restaurants, shopping, public transportation, and the ongoing redevelopment occurring throughout the city. The property is also just minutes from Bates College, Central Maine Medical Center, and the Auburn-Lewiston commercial corridor, making it a desirable location for a wide range of tenants. Whether you're looking to expand an existing portfolio or acquire a large multifamily property with substantial renovations already completed, 37 Union Street presents a rare opportunity to purchase a cash-flowing 10-unit building with major updates already in place.

Listed by: Keller Williams Realty

Above Grade Finished Area
7200.00
Accessibility Features
Appliances
Architectural Style
Other
Basement
Interior Entry, Finished, Partial, Unfinished
Bathrooms Full
10
Bathrooms Total Integer
10
Below Grade Finished Area
7200.00
Body Type
Building Area Total
14400.00
Construction Materials
Wood Frame, Vinyl Siding
Cooling
None
Electric
Circuit Breakers
Exterior Features
Flooring
Vinyl, Wood
Foundation Details
Garage Spaces
0.00
Green Energy Efficient
Heating
Gas Natural, Baseboard
Heating Yes/No
1
Interior Features
Laundry Features
Lot Features
Near Turnpike/Interstate, Near Town, Neighborhood, Level, Open Lot
Lot Size Acres
0.1200
Other Equipment
Other Structures
Parking Features
Gravel, Off Street
Patio And Porch Features
Pets Allowed
Property Condition
Roof
Flat, Membrane
Sewer
Public Sewer
Tax Annual Amount
6454.00
Utilities
Water Source
Public
Waterfront Features
Year Built
1916
Zoning
Unknown