Search Homes

7 Russell StreetLewiston, ME 04240Price: $630,000

  • Price: $630,000
  • 119 Days on Market
$
$
%
$/month over payments
Federal 30-year interest rate: 6.77% last updated on Feb 15, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $630,000List Price
  • 1.39Acreage
  • 9,030Square Feet

Listing Tools

Listed by Berkshire Hathaway HomeServices Northeast Real Estate
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

Property Details of 7 Russell Street

Property Details

Exterior Features

Utilities and Appliances

Other Details

Map Location

Driving Directions

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2024 Maine Real Estate Information System, Inc. All Rights Reserved. equal opportunity housing logo   Privacy Policy

Treeline to Shoreline Realty participates in ©2024 Maine Listings Internet Data Exchange program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded. Mortgage figures are estimates. Check with your bank or proposed mortgage company for actual interest rates. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

Do not fill in this field:

Do not fill in this field:

Do not fill in this field:

$

Do not fill in this field: