A mixed-use downtown Manchester

Multi-Family for Sale
Catylist Listing ID: 30368763
Property Subtypes: Mid-Rise, Mixed Use
Number of Units: 27 Units
Building Size (RSF): 25,276 SF
Gross Building Area: See Agent
Sale Price: $2,430,000
Unit Price: $90,000 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: Undisclosed
Last Updated: 2/21/2019

Overview / Comments

his building is comprised of four, fully occupied, ground level retail units on Elm Street and twenty-three apartments with a blend of studio, one-bedroom, and two-bedroom units. Featuring on-site laundry, leased parking directly abutting the building accessed via N Hampshire Lane, an additional off-site leased lot for overflow parking, and three additional, unfinished units. This ±32,364 SF building has had many capital improvements over the years, including the the installation of rubber membrane roofs, window replacement, upgrading the sewer line, conversion to natural gas heating systems, and much more. Many of the apartments in this building are below market rent and haven't been renovated for many years, providing an opportunity for significant value add. This property is located in a Qualified Opportunity Zone.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $28,982 (Annual)

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 015800070000
Zoning: CBD
Year Built: 1890
Roof Type: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,309 110,270 142,300
Median Age: 33.58 36.33 37.6
Households: 12,620 45,383 57,098

Contact

Photograph of Listing Agent

Matthew Lefebvre

Elm Grove Realty NECPE Member
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