7 Russell Street Lewiston, ME 04240
General Commercial
MLS #: 1575854
Courtesy Of Berkshire Hathaway HomeServices Northeast Real Estate
160 Broadway, Bangor, ME 04401
160 Broadway, Bangor, ME 04401
Property InformationDescription
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
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
Features
- Architecture Style: Other
- Exterior Type: Vinyl Siding
- Exterior Type: Aluminum Siding
- Floor Covering: Vinyl
- Floor Covering: Laminate
- Floor Covering: Carpet
- Heating System: Forced Air
- Home Owner Assessments Fee: $398.00 per Month
- MLSID: 1575854
- Roof Type: Unknown
MAP & DIRECTIONS
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