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
Book: 03315
Leased Land: No
Page: 0336
Map: U-1
Lot: 29
Zoning Overlay: Unknown
Association: No
Street #: 12
Street Name: Lyman
Street Type: Street
County: York
Town: Berwick
State/Province: ME
Zip Code: 03901
Zip +4: 2122
Zoning: R-1
Full Tax Amount $: 11097
Tax Year: 2020
Geo Lat: 43.266503
Geo Lon: -70.861502
Property Information
Surveyed: Unknown
Seasonal: No
Number of Units: 12
Deed/Conveyance Type Offered: Quit Claim w/Covenant
Deed: All
Deed Restrictions: Unknown
2 Detached Houses on 1 Lot: No
Lot Size Acres +/-: 0.22
Total Baths: 12
Total Half Baths: 0
Color: WHITE
Road Frontage: Yes
Road Frontage +/-: 100
Source of Road Frontage: Public Records
SqFt Finished Above Grade: 9801
SqFt Finished Below Grade: 2000
SqFt Source: Public Records
Garage: No
Garage Spaces: 0
Total Full Baths: 12
Year Built: 1953
SqFt Finished Total: 11801
Source of Acreage: Public Records
Site
Corner Lot: 1
Level: 1
Other Site: 1
Sidewalks: 1
Location
Business District: 1
Intown: 1
Near Country Club: 1
Near Shopping: 1
Near Town: 1
Neighborhood: 1
Suburban: 1
Roads
Paved: 1
Public: 1
Transportation
Major Road Access: 1
Water Info
Water Frontage: No
Water View: Seasonal
Water Body Name: SALMON RIVER
Water Body Type
River: 1
Style
New Englander: 1
Other: 1
Construction
Wood Frame: 1
Levels
Multi-Level: 1
Basement
Full: 1
Walk-Out Access: 1
Foundation Materials
Other: 1
Poured Concrete: 1
Exterior
Vinyl Siding: 1
Roof
Fiberglass: 1
Flat: 1
Shingle: 1
Heat System
Baseboard: 1
Forced Air: 1
Radiator: 1
Zoned: 1
Building Info
# Stories: 3
# Heating Units: 2
Heat Fuel
Gas Bottled: 1
Gas Natural: 1
Income & Expenses
Gross Income: 230000
Operating Expenses: 55000
Cooling
None: 1
Floors
Carpet: 1
Concrete: 1
Laminate: 1
Other: 1
Vinyl: 1
Wood: 1
Units
# of 1 BD Units: 4
# of 2 BD Units: 4
# of 3 BD Units: 3
# of 4+ BD Units: 1
Parking
21+ Spaces: 1
Off Street: 1
Paved: 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
Electric
Circuit Breakers: 1
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
Utilities
Utilities On: 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
Gas
Bottled: 1
Natural - At Street: 1
Other Gas: 1
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
Sewer: Yes
Water: Yes
Sewer
Public Sewer: 1
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
Water
Public: 1
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
Driveway
Common: 1
Gravel: 1
Paved: 1
Sold Info
Appraiser Email Address: andrew.hoar@cbre.com
Basement Entry
Exterior Only: 1
Interior: 1
Water Heater
Gas: 1
Amenities
1st Floor Bedroom: 1
1st Floor Primary BR w/Bath: 1
Laundry - Coin: 1
One-Floor Living: 1
Shower: 1
Patio and Porch Features
Deck: 1
Patio: 1
Equipment
Internet Access Available: 1
Vehicle Storage
No Vehicle Storage: 1
Contract Information
Status: Closed
Original List Price: 1495000
Sold Price: $1,350,000
Current Price: $1,350,000
Status Change Info
Pending Date: 2021-09-28
Closed Date: 2022-01-05
Closed Price: 1350000
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
Property Disclosure Public Access ›
Listing Office:
Spectrum Real Estate
IDX
Last Updated: January - 09 - 2025
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