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).

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: NASH M:66 L:00020
Percent Occupied: 100%
Total Number of Buildings: 2
Parking Type: Surface
Laundry: Shared
Heat Type: Natural Gas
Water Service: Municipal
Sewer Type: Municipal

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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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