520 Main StreetLewiston, ME 04240

Description

INVESTORS! A unique and versatile property with tremendous income potential. Formerly the well-known Farnham House Bed & Breakfast, which operated successfully from 1982 to 2004, the property has most recently been used as office space. Offering 14 rooms, 6 BATHROOMS, 3 KITCHENS and 4 fireplaces, the building is currently configured with multiple living areas, including apartment-style spaces on the second and third floors. The third floor is set up as an apartment, while the second floor offers flexibility for one larger apartment or potential additional units. The first floor is currently open to the second, so modifications would be needed to create fully separated units. Utilities and building systems are not separately divided. Located near Bates College and area hospitals, this property offers exceptional flexibility and may also be well suited for a multi-generational household seeking separate living spaces under one roof. Investors may consider housing for traveling professionals, furnished rentals, boarding-house use, multi-unit conversion, business use with rental income, or other possibilities, subject to municipal approvals, zoning and permitting. Built in 1922, the Farnham House is rich with character and craftsmanship, including original cabinetry, terrazzo floors, hardwood flooring, detailed woodwork, built-ins and original architectural features. Hardwood floors are believed to remain beneath much of the carpeting. Additional features include a beautiful sunporch, rear porch, expansive second-floor deck, large level tree-lined lawn and a garage beneath the home with tandem parking for two smaller vehicles. Numerous updates have been completed over the years, including windows, vinyl siding, roofing, sheetrock, electrical improvements, plumbing, insulation, a new boiler, deck improvements and fiber-optic cable to every room. The property has changed hands only a

Property Information

Property type

Residential Income

Style

Colonial

Year built

1922

Stories

3

Living area

4,306 Sq Ft

Lot size

0.41 acres

Garage spaces

2

Zoning

NCB

Days on market

13

MLS^® Listing#

1681927

Property Features

Interior

In-Law Floorplan

Appliances

Water Heater

Cooling

None

Heating

Oil · Radiant

Flooring

Carpet · Other · Vinyl · Hardwood

Basement

Interior Entry · Walk-Out Access · Full · Unfinished

Parking

Paved · Off Street · Tandem · Basement

Patio

Porch · Deck

Lot features

Level · Open Lot · Near Public Transit

Construction

Vinyl Siding · Frame

Foundation

Brick/Mortar

Roof

Membrane · Shingle

Windows

Double Pane Windows · Storm Window(s)

Security

Security System

Utilities

Natural Gas Available · Propane

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Annual taxes

$6,147Tax year 2026