171 Walnut StreetLewiston, ME 04240Price: $425,000

A smart multifamily opportunity with clear upside. A rare double-lot offering includes a vacant lot at 175 Walnut Street and a three unit at 171 Walnut Street is a well-maintained multi-unit offers a strong combination of existing income, below-market rents and the ability to improve performance over time. The property consists of two 1-bedroom units and a spacious 3-bedroom unit, currently vacant and ready to lease at market rent or occupy. The two 1-bedroom units are currently rented at $800 and $1,000 per month--both below prevailing market levels--providing a straightforward path to increased future income. With the 3-bedroom projected at approximately $2,000 per month and opportunity to bring rents closer to market over time, the property offers attractive stabilized income potential. The fundamentals are equally compelling: a brand new roof, ample off-street parking, a detached 2-car garage, and a property that has been well maintained--important considerations when evaluating the true cost of owning an investment property. For an investor, this is an opportunity to acquire a solid three-unit with income already in place and identifiable room for growth. For an owner-occupant, the vacant 3-bedroom provides the rare ability to move in while collecting income from day one. Well maintained. Under-market rents. Immediate leasing opportunity. Clear potential for stronger future returns. Estimated stabilized rents approaching $4500 per month - compelling potential **Contains some AI enhanced imagery