Investors take notice! 16 Howe Street is a great opportunity to own a recently updated 3-unit multi-family property with immediate value-add potential. Featuring new siding, updated interiors, recently paved off-street parking, and a low-maintenance exterior, this property offers a solid foundation for an investor looking to expand their portfolio. Two units are currently vacant, providing the opportunity to secure new tenants at market rents and increase overall income, while one unit is already occupied and generating rental revenue. Conveniently located near local amenities, shopping, dining, and transportation, this property offers the perfect combination of recent improvements and future upside. Whether you're a seasoned investor or looking to make your first multi-family purchase, 16 Howe Street is an opportunity you don't want to miss.
Downtown Lewiston, located between the Androscoggin River and Bates College, is a historic and walkable Lewiston neighborhood with brick mill blocks and a riverfront streetscape. The neighborhood’s character concentrates around Lisbon Street near Main Street, where storefront galleries, independent cafes, and late-night bites line the sidewalks under old mill-era facades. The Franco Center anchors the arts calendar, while the Bates Mill Complex frames the skyline with industrial-scale architecture. Museum L-A adds local history in a compact, gallery-style setting. Side streets mix loft conversions with civic buildings, and the riverwalk ties it all together with open-air views.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Carpet, vinyl and wood flooring
Full basement entry
Bedrooms
Three 3-bedroom units
One 2-bedroom unit
All units on the first level
Bathrooms
Three full bathrooms (one per unit)
Kitchen
No refrigerators included in units (per unit data)
Laundry & utility
No dedicated water heaters for units
No dedicated electric or gas meters for units
Flooring
Carpet
Vinyl
Wood
Heating & cooling
Baseboard heating
Hot water heating
Zoned heating
Has cooling
Circuit breaker electrical
Exterior features
Neighborhood lot
Level lot
Home design
Multifamily building with 3 total units
Zoned DR
Parking
Paved off-street parking
1-car vehicle storage
Construction
Wood frame construction with asbestos noted
Shingle roof
Built in 1891
Utilities
Public water
Public sewer
Gas water heater
Financial info
Gross income reported at $68,232
Operating expenses reported at $21,444
Unit rents reported: two 3-bed units at $2,050 each and one 2-bed unit at $1,586
Electricity and solar
View estimated energy costs and solar savings for this home
The purpose of the downtown residential district is to promote the improvement of older residential neighborhoods within the downtown by encouraging a transition to more mixed use neighborhoods, including owner-occupied, mixed-age and mixed-income housing with less density where desired and appropriate, low-intensity nonresidential uses, more open space and other neighborhood amenities, creating diverse, mixed-use neighborhoods. The standards of the district will encourage the upgrading of the existing neighborhoods by removing blight and vacancy, providing an opportunity for new residential and commercial development, and fostering a sense of community and place through neighborhood meeting, gathering and cultural places.
Zone overlays
Urban Enterprise District
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Housing-Single unit
Housing-Multiple units
Housing-Senior
Bed & breakfast
Mixed use
Office
Research & development
Public service
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 93° expected this year, 16 days in 30 years
4/10 Wind Factor
14% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Lewiston, ME • 04240
Average low and high temperatures (°F)
27
11
30
11
43
25
53
35
64
46
76
56
80
61
80
55
73
51
61
40
47
31
32
15
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
79/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.8 hrs
4.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 16 Howe St
$454,688
$4,312 under list price of $459K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $309K to $540K.