12 Lyman Street, Berwick, ME 03901 (MLS# 1503863)

12 Lyman Street, Berwick, ME 03901

$1,350,000
Property Type: Multi-Family Baths: 12 Square Footage: 11,801 Lot Size (sq. ft.): 9,583 Status: Closed
Current Price: $1,350,000 List Date: 8/05/2021 Last Modified: 1/09/2025

Description

Current 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.

Supplements: ********

More Information MLS# 1503863

Location Information

Street #: 12 Street Name: Lyman Street Type: Street County: York Town: Berwick State/Province: ME Zip Code: 03901 Zip +4: 2122 Leased Land: No Book: 03315 Page: 0336 Map: U-1 Lot: 29 Zoning: R-1 Zoning Overlay: Unknown Association: No Full Tax Amount $: 11097 Tax Year: 2020 Geo Lat: 43.266503 Geo Lon: -70.861502

Contract Information

Status: Closed Original List Price: 1495000 Sold Price: $1,350,000 Current Price: $1,350,000

Property Information

Surveyed: Unknown Seasonal: No Deed/Conveyance Type Offered: Quit Claim w/Covenant Deed: All Deed Restrictions: Unknown 2 Detached Houses on 1 Lot: No Number of Units: 12 Total Baths: 12 Total Full Baths: 12 Color: WHITE Year Built: 1953 SqFt Finished Above Grade: 9801 SqFt Finished Below Grade: 2000 SqFt Finished Total: 11801 SqFt Source: Public Records Garage: No Lot Size Acres +/-: 0.22 Source of Acreage: Public Records Road Frontage: Yes Road Frontage +/-: 100 Source of Road Frontage: Public Records

Status Change Info

Pending Date: 2021-09-28 Closed Date: 2022-01-05 Closed Price: 1350000

Water Info

Water Frontage: No Water View: Seasonal Water Body Name: SALMON RIVER

Building Info

# Stories: 3 # Heating Units: 2

Units

# of 1 BD Units: 4 # of 2 BD Units: 4 # of 3 BD Units: 3 # of 4+ BD Units: 1

Unit 1

Lease: Yes Level: First Security Deposit: No Monthly Rent: 2094 # Full Baths: 1 # of Rooms: 6 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 2

Lease: Yes Level: First Security Deposit: No Monthly Rent: 1619 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 3

Lease: Yes Level: First Security Deposit: No Monthly Rent: 2094 # Full Baths: 1 # of Rooms: 6 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 4

Lease: No Level: Second Security Deposit: No Monthly Rent: 1000 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Water: Yes

Unit 5

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 1229 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 6

Lease: No Level: Second Security Deposit: No Monthly Rent: 1000 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 2802 # Full Baths: 1 # of Rooms: 7 # of Bedrooms: 4 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 1619 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: Yes Level: Third Security Deposit: No Monthly Rent: 2094 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 10

Lease: No Level: Third Security Deposit: No Monthly Rent: 1200 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 11

Lease: No Level: Third Security Deposit: No Monthly Rent: 1600 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 12

Lease: No Level: First Security Deposit: No Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: andrew.hoar@cbre.com

Property Features

Site: Corner Lot; Level; Other Site; Sidewalks Location: Business District; Intown; Near Country Club; Near Shopping; Near Town; Neighborhood; Suburban Roads: Paved; Public Transportation: Major Road Access Water Body Type: River Style: New Englander; Other Levels: Multi-Level Construction: Wood Frame Basement: Full; Walk-Out Access Basement Entry: Exterior Only; Interior Foundation Materials: Other; Poured Concrete Exterior: Vinyl Siding Roof: Fiberglass; Flat; Shingle Heat System: Baseboard; Forced Air; Radiator; Zoned Heat Fuel: Gas Bottled; Gas Natural Water Heater: Gas Cooling: None Floors: Carpet; Concrete; Laminate; Other; Vinyl; Wood Amenities: 1st Floor Bedroom; 1st Floor Primary BR w/Bath; Laundry - Coin; One-Floor Living; Shower Patio and Porch Features: Deck; Patio Equipment: Internet Access Available Driveway: Common; Gravel; Paved Parking: 21+ Spaces; Off Street; Paved Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Bottled; Natural - At Street; Other Gas Sewer: Public Sewer Water: Public

Documents

Listing Office: Spectrum Real Estate
Last Updated: January - 09 - 2025
12 Lyman Street, Berwick, ME 03901- MLS# 1503863
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