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7 Russell Street

Lewiston, ME 04240
  • $630,000
  • STATUS: Active
  • MLS #: 1575854
$630,000
  • 0
    BEDS
  • 1.39
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,030
    SQFT
Type:
Commercial
County:
Area:

School Ratings & Info

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Description

Introducing a Lucrative Investment Opportunity in Lewiston, Maine! Nestled in the heart of Lewiston, this mobile home park is a prime investment prospect spread across 1.39 acres. Key Highlights: Prime Location: With 225 feet of frontage on Russell Street and an additional 92 feet along Main Street, this park offers exceptional visibility and accessibility. Current Development: The park currently features 11 developed lots, providing a solid foundation for immediate income generation. Income Potential: The current lot rents stand at $398 per month, with a planned increase to $428 in January, ensuring a steady income stream. Tenants are already aware of the upcoming rent adjustment, making for a smooth transition and improved financial performance. In addition to lot rent, the park owns 10 homes that generate substantial monthly income as well. Owned Homes: This park includes 11 homes, with 10 owned by the park. Six of these homes have all recently undergone renovations, enhancing their appeal and ensuring long-term stability and tenant satisfaction. Expansion Opportunities: Three additional sites can be constructed, conforming to town regulations, bringing the total to 14. This expansion potential represents an opportunity to increase rental income and overall property value. Community Amenities: The park provides a welcoming and secure environment, offering essential amenities for modern living, including access to public utilities and proximity to local services, schools, and shopping centers. This presents an exceptional investment opportunity with immediate income potential and long-term growth. Lewiston's stable real estate market and strategic location make this mobile home park an excellent choice for investors aiming to maximize returns and diversify their real estate portfolio. Don't miss the chance to acquire a promising property with a track record of success. Invest in your future with this mobile home park in Lewiston

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Maine Real Estate Information Systems logo
Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
© 2024 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2024-04-18T13:20:18.91.
www.davidmarshallteam.com/homes/144711888
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7 Russell Street Lewiston, ME 04240

  • Price: $630,000
  • Status: Active
  • On Site: Days
  • MLS #: 1575854
0
Beds
0
Baths
0
½ Baths
1.39
Acres
9,030
SQFT
$70
$/SQFT
County:
Androscoggin
Area:
Lewiston
Property Description
Introducing a Lucrative Investment Opportunity in Lewiston, Maine! Nestled in the heart of Lewiston, this mobile home park is a prime investment prospect spread across 1.39 acres. Key Highlights: Prime Location: With 225 feet of frontage on Russell Street and an additional 92 feet along Main Street, this park offers exceptional visibility and accessibility. Current Development: The park currently features 11 developed lots, providing a solid foundation for immediate income generation. Income Potential: The current lot rents stand at $398 per month, with a planned increase to $428 in January, ensuring a steady income stream. Tenants are already aware of the upcoming rent adjustment, making for a smooth transition and improved financial performance. In addition to lot rent, the park owns 10 homes that generate substantial monthly income as well. Owned Homes: This park includes 11 homes, with 10 owned by the park. Six of these homes have all recently undergone renovations, enhancing their appeal and ensuring long-term stability and tenant satisfaction. Expansion Opportunities: Three additional sites can be constructed, conforming to town regulations, bringing the total to 14. This expansion potential represents an opportunity to increase rental income and overall property value. Community Amenities: The park provides a welcoming and secure environment, offering essential amenities for modern living, including access to public utilities and proximity to local services, schools, and shopping centers. This presents an exceptional investment opportunity with immediate income potential and long-term growth. Lewiston's stable real estate market and strategic location make this mobile home park an excellent choice for investors aiming to maximize returns and diversify their real estate portfolio. Don't miss the chance to acquire a promising property with a track record of success. Invest in your future with this mobile home park in Lewiston
Exterior Features

Construction Materials Vinyl SidingAluminum SidingMobile Foundation Details Gravel/Pad Lot Features Mobile Home Park Parking 11 - 20 SpacesGravel Parking Features Gravel11 - 20 Spaces Water View No Waterfront YN No

Interior Features

Basement None Carpet Floors YN Yes Cooling None Cooling YN No Flooring VinylOtherLaminateCarpet Heating Forced Air Heating YN Yes

Property Features

Association Fee 398 Association Fee Frequency Monthly Association YN Yes Electric Circuit Breakers Land Lease YN No Property Sub Type General Commercial Sewer Public Sewer Tax Annual Amount 6384 Tax Year 2022 Water Source Public Zoning NeighborhoodBusiness

Maine Real Estate Information Systems logo Listing provided courtesy of Berkshire Hathaway HomeServices Northeast Real Estate: .

© 2024 Maine Real Estate Information System, Inc. All Rights Reserved.

Mortgage Calculator is provided by BoomTown.
Maine Real Estate Information Systems logo
Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
© 2024 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2024-04-18T13:20:18.91.
 
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The David Marshall Team | eXp Realty, LLC
533 Congress Street
Portland ME, 04101
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