$650,000 | $196 per sq.ft. Under Contract
A
3
Unit Multi Family Home, in Manchester NH
With 3 - Three Bedroom Units MLS# 4999294
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Listed by Savannah LevasseurKeller Williams Realty-Metropolitan on June 6th 2024
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DESCRIPTION
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Welcome to 470 Spruce Street, a beautifully maintained 3-family home that represents a sound investment opportunity for those seeking a property that is already income-producing. This exceptional property features three spacious three-bedroom units, currently grossing a monthly income of $6,280, while the first floor unit is rented under value. Each unit is designed for comfort and practicality, making it highly attractive to tenants and ensuring consistent rental income. A standout feature of this property is the three-stall garage and additional parking, a rare and valuable amenity in the city that enhances its rental appeal. While the owner covers gas expenses, the overall property expenses are kept impressively low, maximizing net income and ensuring a strong return on investment. The well-maintained interiors and modern upgrades, including contemporary appliances and fresh paint, contribute to the property's desirability and tenant retention. Centrally located, 470 Spruce Street is conveniently close to schools, parks, shopping, dining, and major highways, offering easy access to all that Manchester has to offer. Whether you're a seasoned investor looking to expand your portfolio or a newcomer seeking a reliable income-generating property, this home offers both immediate returns and long-term growth potential. Don't miss out on this prime investment opportunity. Showings begin on Saturday, June 8th. 24 Hour notice required. OFFER DEADLINE 8PM 6/10. Thank you.
Gross Income : $75360
Net Income: $
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UNIT 1 INFORMATION
Beds: 3Baths: 1Rooms: 6Sq.Ft.: 888Level: 1Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Range - Gas,Refrigerator,Smoke DetectorTenant Pays : ElectricRent : 1580.00 MonthlyLease Term : Month to Month Signed Lease : Yes Status : Month to Month
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UNIT 2 INFORMATION
Beds: 3Baths: 1Rooms: 6Sq.Ft.: 888Level: 2Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Range - Gas,Refrigerator,Smoke DetectorTenant Pays : ElectricRent : 2200.00 MonthlyLease Term : Annual Signed Lease : Yes Status : Leased
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UNIT 3 INFORMATION
Beds: 3Baths: 1Rooms: 6Sq.Ft.: 888Level: 3Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Other,Range - Gas,Refrigerator,Smoke DetectorTenant Pays : Electric,OtherRent : 2500.00 MonthlyLease Term : Annual Signed Lease : Yes Status : Leased
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CONSTRUCTION
Insulation-FiberglassBlwn | Wood Frame | Asbestos Exterior | Exterior Color White | Year Built: 1910
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No. of Floors:3
Total Sq.Ft. Finished: 3312
Above Grade Sq.Ft.: 3312
Apx Below Grade Unfinished Sq.Ft.: 1104
Price Per SQ.FT. 196.26
Basement: Bulkhead | Concrete Floor | Stairs - Interior | Unfinished | Interior Access | Exterior Access | Stairs - Basement
Foundation: Granite
Heating: Natural Gas | Steam
Cooling: None
Electric: 100 Amp
Utilities: Cable - Available
Electric Meters: 3
Gas_Meters: 1
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Style: Apartment Building | Multi-Family
Roof: Flat | Membrane | Rolled
Water: Included | Public
Sewer: Public
Garage And Parking: Detached | Assigned | Driveway | Garage | Leased | Off Street | Parking Spaces 6+ | Paved
Seasonal: No
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LAND LOT INFORMAITION
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Lot Description: City Lot | Curbing | Landscaped | Sidewalks
Lot size: 0.13 acres
Zoned: Residential
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Driveway: Paved
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PROPERTY INFORMATION
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Taxes $7,749
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AREA INFORMATION
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School District: Manchester Sch Dst SAU #37
Elementary School: Henry Wilson School
Middle School: Hillside Middle School
High School: Central High School
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