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Jordan School Apartments 19 Wood St 45 Unit Apartment Building $10,392,532 CAD ($230,945 CAD/Unit) 7.13% Cap Rate Lewiston, ME 04240
Investment Highlights
- Trophy property
- Immaculate condition
- Close proximity to Bate's College
Executive Summary
Rare opportunity to acquire the iconic Jordan School, widely regarded as one of Lewiston’s premier multifamily properties, ideally located just minutes from Bates College. This impressive brick landmark features 45 thoughtfully designed residential units, including 4 studio apartments, 26 one-bedroom units, and 15 two-bedroom units, along with ample on-site parking.
The property has benefited from extensive capital improvements under current ownership, including a new elevator system featuring updated controls, cab, and hydraulics, as well as replacement of both the upper and lower roofs within the past several years. Additionally, 38 units have been substantially renovated with updated flooring, kitchens, bathrooms, appliances, and other modern finishes.
Meticulously maintained and presented in exceptional condition, this trophy asset offers investors the opportunity to own a truly distinguished multifamily property with strong rental appeal and long-term value. Don't miss this chance to add one of Lewiston's finest apartment communities to your portfolio.
The property has benefited from extensive capital improvements under current ownership, including a new elevator system featuring updated controls, cab, and hydraulics, as well as replacement of both the upper and lower roofs within the past several years. Additionally, 38 units have been substantially renovated with updated flooring, kitchens, bathrooms, appliances, and other modern finishes.
Meticulously maintained and presented in exceptional condition, this trophy asset offers investors the opportunity to own a truly distinguished multifamily property with strong rental appeal and long-term value. Don't miss this chance to add one of Lewiston's finest apartment communities to your portfolio.
Property Facts
| Price | $10,392,532 CAD | Building Class | C |
| Price Per Unit | $230,945 CAD | Lot Size | 1.32 AC |
| Sale Type | Investment | Building Size | 57,632 SF |
| Cap Rate | 7.13% | Average Occupancy | 100% |
| No. Units | 45 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1902/1986 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | NCB - Neighborhood Conservation B | ||
| Price | $10,392,532 CAD |
| Price Per Unit | $230,945 CAD |
| Sale Type | Investment |
| Cap Rate | 7.13% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.32 AC |
| Building Size | 57,632 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1902/1986 |
| Parking Ratio | 0.87/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NCB - Neighborhood Conservation B |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 26 | - | - |
| 2+1 | 15 | - | - |
1 1
Moderately walkable
60/100
Fairly drivable
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | LEWI-000194-000000-000251 | Improvements Assessment | $1,578,457 CAD |
| Land Assessment | $144,650 CAD | Total Assessment | $1,723,106 CAD |
Property Taxes
Parcel Number
LEWI-000194-000000-000251
Land Assessment
$144,650 CAD
Improvements Assessment
$1,578,457 CAD
Total Assessment
$1,723,106 CAD
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Jordan School Apartments | 19 Wood St
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