Manchester NH Multi Family 3,049,900

$3,049,900 | $672 per sq.ft. A 5 Unit Multi Family Home, in Manchester NH With 1 - One Bedroom Units | 3 - Two Bedroom Units | 1 - Three Bedroom Units MLS# 5022063

Listed by Mike GiannoneThe Aland Realty Group on November 13th 2024

DESCRIPTION

Part of a 19-unit portfolio located in Manchester, NH consisting of 3 separate properties. The portfolio must be sold together! 355 - 357 Merrimack Street, Manchester, NH is a 5-unit multi-family property. This property features two structures; The first structure is 355 Merrimack Street, a single-family home with 3 bedrooms, 1 bathroom, and 1,220 square feet of living space. Great value-add potential. The second structure is 357 Merrimack Street which is a four-unit building that includes three (3) spacious two-bedroom, one-bathroom apartments ranging from 800 to 900 square feet, and one (1) - one bedroom, one bathroom, 600 square feet unit. Some units are renovated and move-in ready in the four-unit building. This property generates approximately $7600 in monthly gross rental income. This property must be sold as a part of the 19-unit portfolio; 187 Merrimack Street, MLS#5022061, and 489 Pine Street, MLS#5022062. Current Portfolio annual return over 7%+ CAP RATE. This portfolio offers excellent investment potential, with a combined annual gross income of over $311,520. Don't miss your chance to own this income-generating Multi-family portfolio in Manchester, NH!
Gross Income : $91200
Net Income: $

To see this Listing

UNIT 1 INFORMATION Beds: 2 Baths: 1 Rooms: 0 Sq.Ft.: 900 Tenant Pays : Electric Rent : 1300.00 Monthly Lease Term : Month to Month Signed Lease : Yes Status : Month to Month	UNIT 2 INFORMATION Beds: 2 Baths: 1 Rooms: 0 Sq.Ft.: 900 Tenant Pays : Electric Rent : 1700.00 Monthly Lease Term : Annual Signed Lease : Yes Status : Leased	UNIT 3 INFORMATION Beds: 2 Baths: 2 Sq.Ft.: 800 Tenant Pays : Electric Rent : 1450.00 Monthly Lease Term : Month to Month Signed Lease : Yes Status : Month to M	UNIT 4 INFORMATION Beds: 1 Baths: 1 Sq.Ft.: 600 Tenant Pays : Electric Rent : 1500.00 Monthly Lease Term : Annual Status : Leased
UNIT 5 INFORMATION Beds: 3 Baths: 1 Rooms: 0 Sq.Ft.: 1220 Style : single family home Tenant Pays : Electric,Heat,Hot Water Rent : 1650.00 Monthly Lease Term : Month to Month Signed Lease : Yes

CONSTRUCTION

Wood Frame | Vinyl Siding | Year Built: 1920

No. of Floors:2
Total Sq.Ft. Finished: 4541
Above Grade Sq.Ft.: 4541
Apx Below Grade Unfinished Sq.Ft.: 2011
Price Per SQ.FT. 671.64
Basement: Unfinished
Foundation: Stone
Heating: Natural Gas | Hot Water
Cooling: None
Electric: 100 Amp
Utilities: Cable | Other | Phone
Electric Meters:

Style: Apartment Building
Roof: Shingle - Asphalt
Water: Public
Sewer: Public
Garage And Parking: Off-Site | On-Site
Seasonal: No

LAND LOT INFORMAITION

Lot Description: Level
Lot size: 0.13 acres
Zoned: Residential
Surveyed: No
Flood Zone: No
Roads: Public
Road Frontage: 80
Driveway: Paved

PROPERTY INFORMATION

Taxes $8,736
| Assesed Value $463,200 in 2023

AREA INFORMATION

School District: Manchester Sch Dst SAU #37
Elementary School: Beech Street School
Middle School: Southside Middle School
High School: Central High School