10 Unit MF Property Nashua
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: |
30802541 |
| Property Subtypes: |
Low-Rise/Garden
|
| Status: |
Pending |
| Number of Units: |
10 Units |
| Building Size (RSF): |
15,754 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$2,000,000 |
| Unit Price: |
$200,000 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.5% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
6/6/2022 |
Overview / Comments
First time on market, ten units consisting of two multifamily buildings (8 Unit and a 2 Unit) adjacent to each other. Been in the seller’s family for over 30 years. Properties are in pristine shape, share off street parking, and are right across from Sargent's Park. Curb appeal and charm not common with buildings of this size.
Strategically located under a 15 minute drive to the Massachusetts border. Easy access to downtown Nashua, and easy access to US-3 and NH-111. Median household income in 2021 for 1,3,5 mile is $52,071, $72,575, and $83,639 respectively. Rents are below market, providing a buyer with easy value add. Most leases Expire June 2022, some expire in November 2022.
Many ancillary income opportunities above increasing rents to market, including charging for storage that already exists, putting coin operated machines in the shared existing laundry room, or the addition of covered parking in the back of the property (not existing).
Large local employers within a five-minute drive are Southern New Hampshire Medical Center, St Joseph Hospital, BAE Systems. Nashua was rated the #1 place to live in the United States in 1987 & 1997 and has been in the top 100 in three of the last four years (money magazine).
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Additional Details
| Nearest MSA: |
Manchester-Nashua |
| County: |
Hillsborough |
| Tax ID/APN: |
NASH M:66 L:00020 |
| Zoning: |
B URBAN RESIDENCE |
| Percent Occupied: |
100% |
| Total Number of Buildings: |
2 |
| Parking Type: |
Surface |
| Laundry: |
Shared |
| Heat Type: |
Natural Gas |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
17,835 |
80,392 |
126,836 |
| Median Age: |
36.14 |
39.22 |
39.32 |
| Households: |
7,485 |
32,001 |
49,635 |
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