78 Howard Street
Multifamily | 6 Units | $97,500/unit
Marketing description
OPEN HOUSES - Friday the 5th, from 4:30 - 6pm and Saturday the 6th, from 11am - 12pm Your next investment is already running smoothly. It is time to let your money work for you - not the other way around! 78 Howard Street is the kind of deal every investor is looking for. Already under professional management, with many major expenses already taken care of. But not so upgraded that it has lost any potential for value add. A new investor can make a few light changes, fill vacancy, and step into potential increased equity. Once filled at market rent you're looking at right around a 10% cap rate. The existing management team knows the property and wants to stay on. No hassle of interviewing management, trying to keep your records straight, or adding personnel to your current team to handle more units. At $585,000, this is an accessible entry point into Lewiston's growing rental market with a clear, low-effort path to full stabilization. Schedule your showing today!
Investment highlights
6-unit multifamily property in Lewiston, Maine
Five 1-bedroom units and one 2-bedroom unit
Current NOI: $37,157
Pro Forma NOI: $41,374
Three units offering immediate lease-up opportunity
Professional management company willing to remain in place
Natural gas heat, public water, and public sewer
Value-add potential through lease-up and rent optimization
Offered at $585,000
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