Beautifully remodeled and deeply renovated 6 unit on Somerville Hill

Multi-Family for Sale
Catylist Listing ID: 30856006
Property Subtypes: Low-Rise/Garden
Number of Units: 6 Units
Building Size (RSF): 4,413 SF
Gross Building Area: See Agent
Sale Price: $1,281,740
Unit Price: $213,623.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 11/22/2023

Overview / Comments

Fully renovated, insulated, and remodeled 6 unit converted from a 5 unit with all requisite permits and variances. Nice lot with courtyard and off-street parking. New electrical, 3 new Rinnai direct vent heaters, and includes 2 car garage with loft. Solid surface counters, mostly quartz, with new fixtures, sinks, etc. All new LED lighting, life safety, and more. Truly turn-key property that not only looks nice, but has many invisible upgrades for long-term stability.

7.7% cap. All six units leased up in less than 3 weeks upon city sign off. Garage income $285/month.

Will need roof repair soon, or possibly a new roof, negotiable in deal.

Can be purchased separately or in conjunction with 513 Chestnut St, 51 Laurel St, and/or 520 Beech St. Agent interest.


Finance Data Year 2023
Real Estate Taxes - Annual($) $9,763 (Annual)
Potential Rental Income $132,120 (Annual)
Net Operating Income $98,694 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 0282//0028//
Zoning: R3
Total Number of Buildings: 2
Number of Stories: 3
Year Renovated: 2023
Parking Type: Surface, Other
Parking Description: 2 off-street, 2 garage
Total Parking Spaces: 4
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard, Wall Units
Internet Access: Cable, DSL, Satellite, Fiber Optic
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,847 102,614 147,433
Median Age: 35.03 37.11 37.54
Households: 11,991 42,193 59,027
© Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Moody's assume any liability for errors or omissions.