80 College St is amulti-family property for lease in Lewiston, ME.
The Offering: 2 multifamily buildings located in Lewiston, ME, the 2nd largest metropolitan area in Maine. Buildings are located at 78-80 College St and 92-94 College St. 78-80 College St has 4 vacancies, all vacant need to be turned, building will cash flow once the vacancies are turned and rented. 92-94 College is a 12 room boarding house, each room is an efficiency unit. 92-94 College has 2 vacancies, both need to be turned. 92-94 College is cash flowing with 2 vacancies.
All 22 units have small deferred maintenance issues, and all rents are 20% below market rent. If these maintenance issues were tended to, rent could be improved to market rent. We have included a pro forma for each building showing rents as is and a pro forma showing market rents.
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