$3,049,900 | $249 per sq.ft.
A
19
Unit Multi Family Home, in Manchester NH
With 10 - One Bedroom Units | 8 - Two Bedroom Units | 1 - Three Bedroom Units MLS# 5022060
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Listed by Mike GiannoneThe Aland Realty Group on November 13th 2024
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DESCRIPTION
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An outstanding opportunity to invest in 3 multifamily properties in Manchester, NH. This portfolio includes 19 units with a 7%+ CAP return, located at 489 Pine Street, 187 Merrimack St, and 355-357 Merrimack St, Total portfolio gross monthly rents are $25,860, totaling a gross annual income of $311,520. Unit mix = (1) three-bedroom unit, eight (8) two-bedroom units, three (3) one-bedroom units, and seven (7) studio-style units. 489 Pine Street has 8 units, one (1) unit with 2 bedrooms & 1 bathroom, and seven (7) studio units with 1 bathroom each. Monthly gross returns total $10,210. 187 Merrimack St has six (6) units, two (2) - 1 bedroom and 1 bathroom units, and four (4) - 2 bedrooms, 1 bathroom units ranging between 500-1175 Sq ft. Monthly gross returns total $9800. 355-357 Merrimack St has five (5) total units across two (2) buildings/structures on one parcel. 355 is a single-family home detached that offers 3 bedrooms, and 1 bath across 1220 Sq Ft. Monthly gross returns total $7600. 357 Merrimack St, is a four (4) unit structure that has three (3)- 2 bedroom, 1 bath units, and one (1)- one bedroom, one bathroom unit. Take advantage of this opportunity to acquire a substantial multifamily portfolio in Manchester, NH all within 0.5 miles of each other including a unique unit mix. its individual property listing at 489 Pine St MLS#5022062, 187 Merrimack St MLS#5022061, 355-357 Merrimack St MLS#5022063. This property must be sold as a 19-unit portfolio.
Gross Income : $311520
Net Income: $
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CONSTRUCTION
Wood Frame | Vinyl Siding | Year Built: 1920
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No. of Floors:3
Total Sq.Ft. Finished: 12271
Above Grade Sq.Ft.: 12271
Apx Below Grade Unfinished Sq.Ft.: 5039
Price Per SQ.FT. 248.55
Basement: Bulkhead | Concrete | Concrete Floor | Dirt | Dirt Floor | Full | Insulated | Other | Stairs - Exterior | Stairs - Interior | Storage - Assigned | Storage - Locked | Storage Space | Unfinished | Interior Access | Exterior Access | Stairs - Basement
Foundation: Concrete | Poured Concrete
Heating: Propane | Natural Gas | Oil | Hot Air | Hot Water | Space Heater
Cooling: None
Electric: 100 Amp
Utilities: Gas - On-Site
Electric Meters:
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Style: Apartment Building | Detached | Multi-Family | Other | w/Addition
Roof: Shingle - Asphalt
Water: Public
Sewer: Public
Seasonal: No
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LAND LOT INFORMAITION
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Lot Description: Level
Lot size: 0.4 acres
Zoned: R3
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Road Frontage: 200
Driveway: Paved
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PROPERTY INFORMATION
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Taxes $27,755
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AREA INFORMATION
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