Bread & Butter Investment Property

Multi-Family for Sale
Catylist Listing ID: 30860206
Property Subtypes: Low-Rise/Garden, Mixed Use
Number of Units: 45 Units
Building Size (RSF): 28,760 SF
Gross Building Area: 35,961 SF
Sale Price: $6,100,000
Unit Price: $135,555.56 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 64 Merrimack St
Sale Terms: Cash to Seller
Last Updated: 11/14/2023

Overview / Comments

Presenting a prime investment opportunity in the heart of downtown Manchester, NH! This mixed-unit building features a total of 45 units, consisting of 15 one-bedrooms, 10 two-room studios, 18 studios, and two fully leased commercial spaces. It's the quintessential "bread and butter" type of property as it is consistently in high rental demand. This property offers a reliable and stable income stream with average occupancy above 96% for the last 5 years. The mechanical systems have been updated and are well maintained, ensuring long-term sustainability. Don't miss the chance to add this downtown investment property to your portfolio. It is close to transportation, restaurants and entertainment. Opportunities like this are sought after, making it a nice addition to your real estate holdings.

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 116-4
Percent Occupied: 98%
Property Located Between: Elm Street and Central Street
Highway Access: One mile from Interstate 293.
Airports: Manchester-Boston Regional Airport - 7 miles & Boston Logan International - 54 miles
Area Description: Downtown urban area across from Veteran's Memorial Park.
Property Condition: Good
Number of Stories: 4
Year Built: 1915
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick building with two retail store fronts.
Parking Type: Surface
Parking Description: On-street parking with nearby public garage.
Passenger Elevators: 1
Laundry: Shared
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,898 109,913 141,599
Median Age: 32.86 37.1 37.57
Households: 14,963 45,167 56,893


Photograph of Listing Agent

Craig Labrecque

MFH Realty NECPE Member
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