Seller's Agent in 2022
Tony Donovan
Spectrum Real Estate
(207) 329-6732
5 in this area
29 Total Sales
12 Lyman St Berwick, ME 03901
--
Bed
12
Baths
11,801
Sq Ft
9,583
Sq Ft Lot
Highlights
- Country Club
- Wood Flooring
- No HOA
- Deck
- New Englander Architecture
- Patio
About This Home
As of January 2022Current Cap Rate: 11.25% | Day-One Cash-on-Cash: 23.0%
As the exclusive listing advisor, we are pleased to present the opportunity to acquire an investment property located in a very desirable area of southern Maine. 12 Lyman Street Berwick offers a mix of one, two & three-bedroom units, on one quaint tree-lined parcel overlooking the Salmon Falls River on the Maine-New Hampshire border. The property, acquired in 1984 was significantly upgraded by the current ownership.
The 12,000+/- sf, 12-unit building offers ample off-street parking on just over 10,000Sf of land. Walkable to the downtowns of both Berwick Maine and Somersworth NH, combined populations of 20,000, the area is undergoing redevelopment and improvements by both municipal and private investors. Near shopping, entertainment, jobs and bus routes tenants stay for the long-term with negligible vacancy rates. Rent roll and expenses available to qualified buyers on request. This is a must see that will not last long in the current residential investment market demand.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,097
Year Built
- Built in 1953
Lot Details
- 9,583
Home Design
- New Englander Architecture
- Flat Roof Shape
- Shingle Roof
- Fiberglass Roof
Interior Spaces
- 12 Full Bathrooms
- 3-Story Property
- Interior and Exterior Basement Entry
Flooring
- Wood
- Carpet
- Laminate
- Concrete
- Vinyl
Outdoor Features
- Deck
- Patio
Utilities
- No Cooling
- Forced Air Heating System
- Radiator
- Baseboard Heating
Additional Features
- 9,583 Sq Ft Lot
- Property is near shops
Listing and Financial Details
- Tax Lot 29
- Assessor Parcel Number BERW-000001U-000000-000029
Community Details
Overview
- No Home Owners Association
- 12 Units
Recreation
- Country Club
Building Details
- Operating Expense $55,000
- Gross Income $230,000
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/05/2022 01/05/22 | Sold | $1,350,000 | -9.7% | $114 / Sq Ft |
| 09/28/2021 09/28/21 | Pending | -- | -- | -- |
| 08/05/2021 08/05/21 | For Sale | $1,495,000 | -- | $127 / Sq Ft |
Source: Maine Listings
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $23,207 | $1,779,700 | $901,000 | $878,700 |
| 2024 | $22,193 | $1,779,700 | $901,000 | $878,700 |
| 2023 | $10,501 | $573,200 | $80,400 | $492,800 |
| 2022 | $10,444 | $573,200 | $80,400 | $492,800 |
| 2021 | $10,490 | $573,200 | $80,400 | $492,800 |
| 2020 | $9,733 | $573,200 | $80,400 | $492,800 |
| 2019 | $9,733 | $555,200 | $80,400 | $474,800 |
| 2018 | $7,976 | $465,100 | $101,700 | $363,400 |
| 2017 | $7,976 | $465,100 | $101,700 | $363,400 |
| 2016 | $7,581 | $465,100 | $101,700 | $363,400 |
| 2014 | $7,395 | $465,100 | $101,700 | $363,400 |
| 2013 | $7,465 | $465,100 | $101,700 | $363,400 |
Source: Public Records
Agents Affiliated with this Home
-
Tony Donovan
-
Sara McKee
Buyer Co-Listing Agent in 2022
Sara McKee
Vitalius Real Estate Group, LLC
(207) 807-3299
2 in this area
18 Total Sales
Map
Source: Maine Listings
MLS Number: 1503863
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