88 Russell St Lewiston, ME 04240
Estimated payment $4,062/month
Highlights
- Colonial Architecture
- No HOA
- Heating System Uses Natural Gas
- Corner Lot
- Carpet
About This Home
Prime Investment Opportunity - 4-Unit Multi-Family + Convenience Store Near Bates College. Exceptional location just steps from Bates College! This mixed-use property features four residential units plus an on-site convenience store—perfectly positioned to serve the high-demand student and local market. Income Potential: Rents are currently below market, offering immediate upside for investors. Flexible Use: Ideal for a value-add rehab to maximize rental income—or move-in ready for owner-occupants or tenants. High Visibility: Located in a walkable neighborhood with consistent foot traffic from the college community. Student Appeal: Tap into steady demand from Bates College students, faculty, and staff. Whether you're looking to renovate for increased returns or take advantage of strong existing cash flow, this property is a rare find with unlimited potential.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,337
Year Built
- Built in 1900
Lot Details
- 6,970 Sq Ft Lot
- Corner Lot
Home Design
- 2,050 Sq Ft Home
- Colonial Architecture
- Concrete Foundation
- Wood Frame Construction
- Shingle Roof
- Aluminum Siding
- Vinyl Siding
- Concrete Perimeter Foundation
Flooring
- Carpet
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 4 Full Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Parking
- Driveway
- Paved Parking
- On-Street Parking
Utilities
- No Cooling
- Heating System Uses Natural Gas
- Heating System Mounted To A Wall or Window
- Electric Water Heater
Listing and Financial Details
- Tax Lot 269
- Assessor Parcel Number LEWI-000172-000000-000269
Community Details
Overview
- No Home Owners Association
- 4 Units
Building Details
- Operating Expense $16,929
- Gross Income $48,324
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 |
|---|---|---|---|---|
| 2024 | $5,337 | $168,000 | $25,600 | $142,400 |
| 2023 | $5,040 | $168,000 | $25,600 | $142,400 |
| 2022 | $4,788 | $168,000 | $25,600 | $142,400 |
| 2021 | $4,748 | $168,000 | $25,600 | $142,400 |
| 2020 | $4,817 | $168,000 | $25,600 | $142,400 |
| 2019 | $4,857 | $168,000 | $25,600 | $142,400 |
| 2018 | $4,817 | $168,000 | $25,600 | $142,400 |
| 2017 | $4,203 | $150,000 | $25,600 | $124,400 |
| 2016 | $4,131 | $150,000 | $25,600 | $124,400 |
| 2015 | $4,106 | $150,000 | $25,600 | $124,400 |
| 2014 | $3,989 | $150,000 | $25,600 | $124,400 |
| 2013 | $3,966 | $150,000 | $25,600 | $124,400 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/15/2025 07/15/25 | For Sale | $665,000 | -- | $324 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Foreclosure Deed | $150,000 | -- | |
| Foreclosure Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $450,000 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $150,000 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $92,000 | Commercial | |
| Closed | $597,000 | Commercial | |
| Previous Owner | $150,000 | Purchase Money Mortgage |
Source: Maine Listings
MLS Number: 1630506
APN: LEWI-000172-000000-000269
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Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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