Lakes Region Investment Opportunity

Multi-Family for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30607646
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 7,375 SF
Gross Land Area: 0.87 Acres
Sale Price: $1,250,000
Unit Price: $312,500 Per Unit
Property Use Type: Investment
Building Name: Bristol House of Pizza with (3) Unit Townhouse
Usable Size (USF): 7,375 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/22/2020

Overview / Comments

INVESTORS TAKE NOTICE!

123 Lake St (3) Unit apartment building is being sold collectively with 115 Lake St. (Bristol House of Pizza) Total Offering at $1,250,000 includes purchase of both lots and buildings.(See MLS 4807163 and 4807167). Fabulous opportunity to take title from owners who built the property and are now retiring.

123 Lake Street - Well maintained 3-unit townhouses in the Bristol Village directly across the street from the Newfound Middle School. Great rental history! Each 1088 +- s.f. unit has two bedrooms upstairs and a full bath. Porch on first floor rear overlooking the river. Plenty of parking. Three-bay garage 500+- s.f. can be leased for additional revenue to tenants or third parties. Built in 1986, this is a perfect investment opportunity to generate short term passive income while building long term equity. Current Lease $900 Mo. Allocated @ $395,000 with $32,400 Gross Income

115 Lake St. Bristol House of Pizza 3,514 +- Sq. Ft.
This regionally recognized and successful business has been home to this 3,500 Sq. Ft. highly visible property for 22+ Yrs. Current Lease Runs through Jan 2024 with Desirable NNN cash flow. Allocation of $845,000 with a 7.8% Cap Rate. Built in 1983 this Investment property is located minutes from Route 93 Exit 23.

MUST SEE!

Additional Details

Nearest MSA: Lebanon
County: Grafton
Tax ID/APN: 113-028-000/113-027-000
Zoning: VILLAGE COMMERCIAL
Percent Occupied: 100%
Property Located Between: Lake St. & Union St. Bristol
Highway Access: Rt. 93 to Exit 23 then W into Bristol on Rte. 132/104
Airports: Newfound Valley Airport
Site Description: Lot size .87 Acres Buildings are Separately Deeded but being sold collectively together. Owner have enjoyed decades as successful & well respected Landlords and are looking forward to full time retirement.
Area Description: Bristol is a town in Grafton County, New Hampshire, United States. It is home to Wellington State Park, Sugar Hill State Forest, and Profile Falls on the Smith River. Surrounded by hills and lakes, Bristol includes the lower two-thirds of Newfound Lake, a resort area. Bristol is one of four towns with shoreline on Newfound Lake, which has been a tourist destination since the mid-19th century.
Total Number of Buildings: 2
Property Condition: Good
Year Built: 1983
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: Ample & Easy to Access.
Total Parking Spaces: 40
Heat Type: Hot Water
Heat Source: Baseboard, Wall Units
Fuel: Oil
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: See Pictures
Zoning Description: Village Commercial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,853 5,174
Median Age: 42.21 42.68
Households: 1,180 2,084

Contact

Photograph of Listing Agent

Jay DelMonte

RE/MAX Innovative Properties
NECPE Member
Photograph of Listing Agent

Rose Culver

RE/MAX Commercial Innovative Properties
NECPE Member
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