West End 6 Unit

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30815623
Property Subtypes: Mixed Use
Status: Pending/Contingent
Number of Units: 6 Units
Building Size (RSF): 4,213 SF
Gross Building Area: 6,419 SF
Gross Land Area: 0.19 SF
Sale Price: $1,150,000
Unit Price: $191,666.67 Per Unit
Property Use Type: Business
Usable Size (USF): 4,213 SF
Sale Terms: Cash to Seller
Cap Rate: 6.4%
Last Updated: 9/2/2022

Overview / Comments

Rare opportunity to own a 6 Unit building fully rented in the heart of Portsmouth's thriving West End. 2 commercial units on the ground floor and 4 apartments above. 2nd building on the property is a historic barn with 2,400 s.f. NOT included in the 4,213 of useable space in primary building. The barn is not heated and is fully rented by occupants of abutting properties. Off street parking for up to 14 cars. Seller is related to Realtor/Jaye Morton.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $10,278 (Annual)
Tax Value Land $308,900
Tax Value Improvements $369,300
Assessed Value - Total($) $678,200 (Annual)
Potential Rental Income $109,200 (Annual)
Gross Operating Income $102,000 (Annual)
Net Operating Income $73,545 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: 08178-0165-0007-0000
Zoning: CD4-W RETAIL/APARTMENT
Percent Occupied: 100%
Property Located Between: Islington/Bartlett intersection and Frenchman's Lane. Abutting Gallagher's Place
Highway Access: 3 minutes to the Portsmouth Traffic Circle offering access to Rte 95. Head West on Islington for Rte. 33. Rte 1/Lafayette Rd. is also accessible within a 3 minute Drive.
Airports: Pease International
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 3
Year Built: 1899
Construction/Siding: Wood Frame
Exterior Description: New Englander with 3 units per side. Asbestos shingles with Composite over in some areas. Parking in rear and along side.
Parking Type: Surface
Parking Description: 10 spaces behind the building; 2 along side the front building and 2 along the side of the barn.
Total Parking Spaces: 14
Sprinklers: None
Heat Type: Natural Gas, Hot Water
Heat Source: Central
Fuel: Gas
Internet Access: Cable
Interior Description: 5 of 6 Units have been renovated as tenants have changed. Long term tenant in the 6th one.
Zoning Description: Zoning allows for mixed use with commercial and residential.
Lot Frontage: 50 Feet
Lot Depth: 179 Feet irregular
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: Alley between Gallagher's Place and subject property for shared use.
Land Ownership: owned
Legal Description: 0165/0007/0000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,273 28,705 40,496
Median Age: 40.42 42.28 42.59
Households: 4,698 13,483 18,458

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