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 $285/month.
Will need roof repair soon, or possibly a new roof, negotiable in deal.
Can be purchased separately or in conjunction with 513 Chestnut St, 51 Laurel St, and/or 520 Beech St. Agent interest.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$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 |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
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