Price Change! reduced by $150,000 down 5% on October 3rd 2024
$3,199,000 | $284 per sq.ft.
A
16
Unit Multi Family Home, in Manchester NH
With 11 - One Bedroom Units MLS# 5012399
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Listed by Matthew LefebvreDowntown Realty on September 3rd 2024
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DESCRIPTION
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119 Hanover Street is a turnkey, mixed-use investment opportunity positioned on the corner of Hanover and Chestnut in the heart of Manchester's downtown. Sited within a block of major attractions such as the Hanover Street Chophouse, The Palace Theater, and several new multifamily developments, this location is second to none. This two-story brick building boasts 11 apartments (a mix of studio and 1-bedrooms), 5 retail units, and a leased billboard, all of which have seen significant renovations over the last two years. These upgrades include new electrical panels, updated unit plumbing, new high efficiency mini-splits, a new rubber roof, and a freshly painted façade. Additionally, each of the apartments have been painstakingly remodeled with high-end finishes including granite countertops, stainless-steel appliances, premium-LVP flooring, and in-unit air conditioning. The residents can also access the free high-speed wireless internet newly installed throughout the building, utilize the brand-new laundry room, and benefit from the high-resolution cameras providing interior and exterior coverage of the property. All of the commercial units are fully occupied on multi-year leases with a mix of retail and restaurant tenants. The billboard presents additional opportunity for value-add with an at-will operator that has been renting for almost three decades at a below market rate. Don't let this opportunity to own a turnkey building in Manchester's downtown pass you by!
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CONSTRUCTION
Steel Frame | Brick Exterior | Year Built: 1910
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No. of Floors:2
Total Sq.Ft. Finished: 11248
Above Grade Sq.Ft.: 11248
Apx Below Grade Unfinished Sq.Ft.: 5555
Price Per SQ.FT. 284.41
Basement: Unfinished
Foundation: Fieldstone
Heating: Natural Gas | Electric | Steam
Cooling: Mini Split
Electric: 200 Amp
Utilities: Gas - On-Site | Other
Electric Meters:
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Style: Apartment Building
Roof: Rolled
Water: Public
Sewer: Public
Seasonal: No
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LAND LOT INFORMAITION
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Lot Description: City Lot | Corner
Lot size: 0.14 acres
Zoned: CBD
Surveyed: Unk
Flood Zone: No
Roads: Public
Driveway: None
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PROPERTY INFORMATION
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Taxes $17,850
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AREA INFORMATION
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