Multi Family Redevelopment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30861152
Property Subtypes: Government Subsidized, Low-Rise/Garden, Other
Number of Units: 36 Units
Building Size (RSF): 56,438 SF
Gross Building Area: See Agent
Gross Land Area: 2.95 Acres
Sale Price: $1,200,000
Unit Price: $33,333.33 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/23/2024

Overview / Comments

Fully permitted multi family redevelopment opportunity in Antrim, NH. The seller has completed much of the groundwork to make this a shovel ready project for the next owner! This site has 3 parcels of land +/- 2.95 acres with a fully permitted 36-unit Low Income Housing Development Opportunity and a +/- 56,438 mill building. The is ample opportunity to add commercial lease tenants on the property. There are 7 commercial tenants in place with cash flow and +/- 12,000 sf of commercial space can be finished off and leased. Studies have shown that there is strong demand for housing in the Antrim area. Seller has worked with the Town of Antrim who has been very supportive of the project. They would likely be flexible with site plan modifications.

Highlights:
-Permitted for 36 residential apartments
-Designated ERZ, economic revitalization zone
-Historic registered property so renovation / construction received 20% tax credit if done to historic standards. No restrictions if not pursuing the tax credits.
-Development work completed: site plan, civil engineering construction drawings, Shoreland permit, environmental study, geotechnical analysis, structural engineering studies, solar studies, historic monument registration and part 1 approval for a historic tax credit project, 4% LIHTC award

See attachments and media for website link to additional project details

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Taxing Authority: 2050 1905
Tax ID/APN: 104-106-000-000
Zoning: VILLAGE BUSINESS W & S
Total Number of Buildings: 2
Number of Stories: 4
Year Built: 1880
Roof Type: Other
Construction/Siding: Brick
Lot Frontage: 464
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,113 7,679
Median Age: 41.34 43.77
Households: 1,619 3,083

Contact

Photograph of Listing Agent

Brian Dano

SVN The Masiello Group
NECPE Member
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