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.
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.
Use catalogs to collect relevant listings or transactions for later analysis, or to share with a client or colleague.
Catalogs make it easy to keep track of favorite properties – you'll receive automatic notifications whenever
changes are made to the listings in your catalog (price reductions, status changes, etc.)
