29 Temple St, Nashua, NH

Multi-Family for Sale
Also listed as Special Purpose
Catylist Listing ID: 30828214
Property Subtypes: Low-Rise/Garden, Student Housing, Other
Number of Units: 32 Units
Building Size (RSF): 8,728 SF
Gross Building Area: See Agent
Gross Land Area: 0.19 Acres
Sale Price: $2,299,000
Unit Price: $71,843.75 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 8,728 SF
Sale Terms: Cash to Seller
Cap Rate: 18.8%
Last Updated: 2/3/2023

Overview / Comments

This fully renovated 32 bedroom / 9 bathroom building is located in the flexible Downtown 1/ Mixed Use Zoning District of Nashua. Uses include, but are not limited to sober/recovery living, rooming/boarding (such as student housing), commercial offices and many other permitted uses. For sober living use, it allows for up to 58 persons. Multiple exterior ingress/egress points are present for convenience and safety. It's in a great location - within walking distance to many amenities the city has to offer.
Common areas consist of 3 main common rooms on the first floor, full kitchen with granite counters and new appliances, 7 completely renovated private full bathrooms and a full renovated double bathroom with two sets, additional rooms suitable for storage and facility operational needs, and a laundry room with washer and dryer hook-ups. Building and mechanical systems went thru renovation with many updates to exceed standards. Improvements include, but are not limited to new commercial carpet, new windows (replacement still in progress), 2 new boilers, 2 new indirect hot water heaters, new electrical fixtures, sprinklers, fire suppression system and many others.
This is an exceptional opportunity, offering the investor/operator a great canvas to make this building suit their needs.
Could come fully furnished at buyer's request.

Attachments & Media

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $13,110 (Annual)

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 0033-00030-00000
Zoning: D1MU - BOARDING HS
Property Located Between: Spring St & Cottage St
Area Description: Nashua is a city in southern New Hampshire. As of the 2020 census, it had a population of 91,322, the second-largest in northern New England after nearby Manchester. Along with Manchester, it is a seat of New Hampshire's most populous county, Hillsborough. Built around the now-departed textile industry, in recent decades Nashua's economy has shifted to the financial services, high tech, and defense industries as part of the economic recovery that started in the 1980s in the Greater Boston region. Major private employers in the city include Nashua Corporation, BAE Systems, and Teradyne. The city also hosts two major regional medical centers, Southern New Hampshire Medical Center and St. Joseph Hospital. The South Nashua commercial district is a major regional shopping destination, lying directly on the Massachusetts border and taking advantage of New Hampshire's lack of sales tax. It is anchored by the Pheasant Lane Mall and numerous smaller shopping centers.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1900
Year Renovated: 2022
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl Exterior
Parking Type: Surface
Laundry: Shared
Sprinklers: Other
Heat Type: Hot Water
Heat Source: Central
Fuel: Gas
Zoning Description: Downtown 1 Mixed Use
Lot Frontage: 80.0
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,544 86,512 127,074
Median Age: 34.84 39.14 39.28
Households: 9,447 34,198 49,679
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