Strong Investment Opportunity!

Multi-Family for Sale
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.

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.

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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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