Brook Farm Village Condo Rentals

Multi-Family for Sale
Catylist Listing ID: 30639436
Property Subtypes: Low-Rise/Garden
Number of Units: 62 Units
Building Size (RSF): 52,700 SF
Gross Building Area: See Agent
Sale Price: $6,900,000
Unit Price: $111,290.32 Per Unit
Property Use Type: Investment
Building Name: Brook Farm Village Condos
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/21/2020

Overview / Comments

Hard to find mid size mutli-family investment property . These 62 units of Condos are located in southwest Rochester just south of the Rte 16 exit, providing ease of access to all points in the seacoast. This property consists of the majority of units within the community of Brook Farm Village, providing the investor a solid investment that will provide great revenue and great value. This is a well maintained, well funded condo association, which will provide a peace-of-mind investment. A potential value add that has rents close to market, but with room to grow. With many new improvements, overall in good condition, the property shows it has been well maintained. There is a good unit mix, which provides for a mix of tenants.

Attachments & Media

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Tax ID/APN: 0142-0076-0000
Zoning: R2
Percent Occupied: 93%
Highway Access: This property is right off Route 125, close to Barrington, NH. The location is serviced by the Spaulding Turnpike, which is a north & south four-lane highway through the north end of Rochester, and serves as a main artery from the seacoast to the mountains & lakes, some 30-50 minutes to the north.
Airports: Rochester NH & Pease Tradeport
Site Description: The City of Rochester is located within the seacoast region of New Hampshire. The seacoast is approximately an hour from Boston, MA, Manchester, NH, and Portland, ME. The site is located within a quarter mile of the Spaulding Turnpike exit 11. The site is open and level. The road provides access to both Brook Farm Village and to an Apartment facility behind it.
Area Description: There have been large investments in the area by high tech companies like Saffron/Albany International, NCS Global, Technoweave, SIG, Liberty Mutual, TurboCam International, Wentworth Douglass Hospital (which partnered with Mass General), and numerous other regional employers from Rochester to Portsmouth. Seacoast unemployment is currently at an historic low of 3% with over 15,000 businesses and 170,000 employees. The community is a vibrant and growing city, with the Rochester Opera House providing a great entertainment venue for plays and concerts. The city has a very active and rich recreational component to it, with many kids programs offered. There is also the golf course, the Rochester Country Club, which is within an eighth of a mile. The property is located on the southwest side of Rochester, within a 1/4 mile of the turnpike. The City of Rochester has the City of Dover bordering to the southeast, the City of Somersworth to the east, the town of Barrington to the south, and also borders with Maine to the north. The location of the property within the community provides for ease of access to Rochester downtown, as well as Dover and Portsmouth.
Total Number of Buildings: 9
Property Condition: Good
Year Built: 1988
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: New England style property with gables and clean design, with ease of parking and more than adequate parking for all the tenants. Open field, mowed and an on site basketball court.
Parking Type: Surface
Parking Description: Surface parking with allocated parking at 197 spaces total on site. Several visitor spots for each building as well.
Total Parking Spaces: 197
Laundry: Laundromat Nearby
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Electric
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: Drywall
Zoning Description: R-2
Lot Frontage: Rt 125 - 950 feet
Lot Depth: varied
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Sewer
Land Ownership: Condo Assoc.
Legal Description: 1284-0007

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,791 20,574 46,035
Median Age: 37.99 40.48 40.26
Households: 1,097 8,510 18,487
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