Seller's Agent in 2022
Tony Donovan
Spectrum Real Estate
(207) 329-6732
5 in this area
28 Total Sales
12 Lyman St Berwick, ME 03901
--
Bed
12
Baths
11,801
Sq Ft
9,583
Sq Ft Lot
Highlights
- Country Club
- Deck
- New Englander Architecture
- River Front
- Wood Flooring
- Main Floor Bedroom
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 Sq Ft Lot
- River Front
- Corner Lot
- Level Lot
Home Design
- New Englander Architecture
- Flat Roof Shape
- Concrete Foundation
- Wood Frame Construction
- Shingle Roof
- Fiberglass Roof
- Vinyl Siding
- Concrete Perimeter Foundation
Interior Spaces
- 3-Story Property
Flooring
- Wood
- Carpet
- Laminate
- Concrete
- Vinyl
Bedrooms and Bathrooms
- Main Floor Bedroom
- 12 Full Bathrooms
- Shower Only
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Interior and Exterior Basement Entry
Parking
- Common or Shared Parking
- Gravel Driveway
- Shared Driveway
- Paved Parking
- Off-Street Parking
Outdoor Features
- Deck
- Patio
Location
- Property is near a golf course
- Suburban Location
- City Lot
Utilities
- No Cooling
- Forced Air Zoned Heating System
- Radiator
- Heating System Uses Gas
- Heating System Uses Natural Gas
- Baseboard Heating
- Gas Water Heater
- Internet Available
Listing and Financial Details
- Tax Lot 29
- Assessor Parcel Number BERW-000001U-000000-000029
Community Details
Overview
- No Home Owners Association
- 12 Units
Amenities
- Coin Laundry
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 | Change | Sq Ft Price |
|---|---|---|---|---|
| 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 Compared to Growth
Agents Affiliated with this Home
-
Tony Donovan
-
Sara McKee
Buyer Co-Listing Agent in 2022
Sara McKee
Spectrum Real Estate
(207) 807-3299
2 in this area
18 Total Sales
Map
Source: Maine Listings
MLS Number: 1503863
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