47 Pierce St Lewiston, ME 04240
Estimated payment $3,415/month
Highlights
- Wood Flooring
- Radiator
- 4-minute walk to Kennedy Park
- No HOA
About This Home
Fully occupied 6-unit multifamily in Lewiston featuring a strong unit mix of (3) three-bedroom units and (3) four-bedroom units. Large layouts support consistent rental demand. The property is currently producing a 12% cap rate, offering immediate in-place cash flow with additional upside through rent growth and operational improvements. The building received a new EPDM roof in 2018 and includes a spacious on-site parking lot, further enhancing long-term stability. A solid value-add opportunity in a proven rental market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,078
Year Built
- Built in 1881
Lot Details
- 8,276 Sq Ft Lot
Home Design
- Flat Roof Shape
Interior Spaces
- 6 Full Bathrooms
- 7,560 Sq Ft Home
- Interior Basement Entry
Flooring
- Wood
- Tile
- Vinyl
Utilities
- No Cooling
- Radiator
Listing and Financial Details
- Tax Lot 527
- Assessor Parcel Number 47PierceStreetLewiston04240
Community Details
Overview
- No Home Owners Association
- 6 Units
Building Details
- Operating Expense $53,525
- Gross Income $122,400
Map
Home Values in the Area
Average Home Value in this Area
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 | $5,078 | $154,900 | $21,840 | $133,060 |
| 2024 | $3,967 | $124,870 | $21,840 | $103,030 |
| 2023 | $3,746 | $124,870 | $21,840 | $103,030 |
| 2022 | $3,559 | $124,870 | $21,840 | $103,030 |
| 2021 | $3,529 | $124,870 | $21,840 | $103,030 |
| 2020 | $3,580 | $124,870 | $21,840 | $103,030 |
| 2019 | $3,610 | $124,870 | $21,840 | $103,030 |
| 2018 | $3,580 | $124,870 | $21,840 | $103,030 |
| 2017 | $3,499 | $124,870 | $21,840 | $103,030 |
| 2016 | $3,439 | $124,870 | $21,840 | $103,030 |
| 2015 | $3,418 | $124,870 | $21,840 | $103,030 |
| 2014 | $3,320 | $124,870 | $21,840 | $103,030 |
| 2013 | $3,302 | $124,870 | $21,840 | $103,030 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/18/2026 03/18/26 | Pending | -- | -- | -- |
| 02/25/2026 02/25/26 | For Sale | $575,000 | -- | $76 / Sq Ft |
Source: Maine Listings
MLS Number: 1652671
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