$2,975,000 | $264 per sq.ft.
A
16
Unit Multi Family Home, in Manchester NH
With 11 - One Bedroom Units MLS# 5037275
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Listed by Matthew LefebvreDowntown Realty on April 22nd 2025
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DESCRIPTION
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119 Hanover Street presents a rare opportunity to own a fully occupied, mixed-use property in the heart of downtown Manchester, all for under $3 million! Positioned on the corner of Hanover and Chestnut Street--just steps from The Palace Theater, Hanover Street Chophouse, and major new multifamily developments--this location offers unmatched walkability and visibility. The two-story brick building features 11 fully leased apartments (a mix of studios and 1-bedrooms), 5 commercial storefronts, and a long-standing billboard lease. Every unit has undergone significant renovations in the past two years, including new electrical panels, updated plumbing, a new rubber roof, high-efficiency mini-splits, and a freshly painted exterior. Each residential unit is outfitted with high-end finishes such as granite countertops, stainless steel appliances, premium LVP flooring, and in-unit A/C. Residents also enjoy free high-speed Wi-Fi, a new laundry room, and 24/7 security coverage via high-resolution interior and exterior cameras. All five commercial spaces are leased on multi-year terms to a stable mix of retail and restaurant tenants. The on-site billboard--rented for nearly 30 years--offers additional upside with a tenant currently paying below-market rent on an at-will basis. Don't miss this chance to acquire a fully renovated, income-producing building in one of New Hampshire's strongest rental markets.
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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
Price Per SQ.FT. 264.49
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: Unknown
Driveway: None
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PROPERTY INFORMATION
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Taxes $17,739
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AREA INFORMATION
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