Catylist ID:
#30826744
| Catylist Listing ID: | 30826744 |
| Property Subtypes: | Duplex/Fourplex |
| Number of Units: | 4 Units |
| Building Size (RSF): | 4,104 SF |
| Gross Building Area: | 7,128 SF |
| Gross Land Area: | 2.61 Acres |
| Sale Price: | $1,200,000 |
| Unit Price: | $300,000 Per Unit |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Building Name: | White Ridge Apartments |
| Usable Size (USF): | 7,128 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 1/4/2023 |
Overview / Comments
|
Strong Investment Opportunity! It’s not often that you can find a multifamily property that is so well- maintained, set on a private 2.61 acre lot with expansion potential. Additionally, it provides the very desirable amenities of town water and sewer. The building features 4 updated units with security systems, hard wired fire alarms, and sprinkler systems; 2 of the units are garden style and 2 of the units are townhouse style. Both garden apartments consist of 5 rooms, a fully equipped kitchen, comfortable living room, dining room (with access to a private deck), 2 bedrooms and a full bath. The larger townhouse units feature a main level with a fully equipped kitchen, dining room, living room, half bath, and private deck. The upper-level houses 2 bedrooms and a full bath. All units have interior access to private basement storage with laundry sink/hookups and efficient boilers with on-demand hot water. Bonus walkout caretaker space on the lower level with private entrance, efficiency kitchenette and 3/4 bath with additional storage. Prime location, just minutes to downtown North Conway, yet tucked away on a quiet cul-de-sac. Ample off-street paved parking and well-landscaped common area; not to mention, just a short walk to conservation trails. A fantastic investment with successful rental history. |
Attachments & Media
Financials
| Finance Data Year | 2022 |
|---|---|
| Real Estate Taxes - Annual($) | $7,585 (Annual) |
Additional Details
| Nearest MSA: | Berlin |
| County: | Carroll |
| Submarket/Township: | Conway/North Conway |
| Tax ID/APN: | 202-250 |
| Zoning: | RA |
| Percent Occupied: | 100% |
| Property Located Between: | North Conway Village and Bartlett |
| Highway Access: | NH RT16 and NH RT302 |
| Airports: | Eastern Slopes Regional Airport in Fryeburg, ME |
| Site Description: | Located at the end of a private cul-de-sac, this property has access from NH RT16/NH RT 302 a state highway. The site consists of a 4 unit multifamily building with potential for expansion on 2.61 landscaped acres. Bonus managers office and additional storage. All serviced by town water and sewer. |
| Area Description: | Located just out side North Conway Village in Conway, NH. Close to shopping, restaurants, and recreation - all the Mount Washington Valley offers. |
| Total Number of Buildings: | 1 |
| Property Condition: | Excellent |
| Number of Stories: | 2 |
| Year Built: | 1988 |
| Roof Type: | Other |
| Construction/Siding: | Wood Siding |
| Exterior Description: | This property features a spacious paved driveway with 8+ parking spots, and extra spaces for snow removal. Level landscaped lot. The building itself has 4 rental units, each with a covered entry way and it's own private rear deck. Tons of potential! |
| Parking Type: | Surface |
| Parking Description: | Paved driveway parking with 8+ plus parking spaces, plus additional room to move cars for plowing. |
| Total Parking Spaces: | 10 |
| Laundry: | In Each Unit |
| Sprinklers: | Wet |
| Heat Type: | Propane |
| Heat Source: | Baseboard |
| Fuel: | Propane |
| Internet Access: | Cable |
| Interior Description: | Multifamily property features 4 units. The 2 garden styles apartments each consist of 5 rooms, a fully equipped kitchen, formal living room, dining room with access to a private deck, 2 bedrooms and a full bathroom. The 2 townhouse style apartments consist of a main level with a fully equipped kitchen, dining room, and living room with access to private deck and a half bath. The second floor of these units has 2 bedrooms and 1 full bathroom. Each of the 4 units has access to private basement storage with laundry hookups. In addition to these units there is a finished managers office in the basement with it's own kitchenette and 3/4 bath. The basement also has an additional storage space for an owner/manager. |
| Zoning Description: | RA |
| Lot Frontage: | 248' |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | Owned |
| Legal Description: | 2.61 Acres, see attached deed for legal description. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 1,053 | 3,930 | 8,044 |
| Median Age: | 45.83 | 45.62 | 46.74 |
| Households: | 476 | 1,835 | 3,687 |
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