145-153 Union Ave, Laconia, NH

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30872868
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 8 Units
Building Size (RSF): 8,802 SF
Gross Building Area: See Agent
Gross Land Area: 0.44 Acres
Sale Price: $1,387,000
Unit Price: $173,375 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.13%
Average Occupancy Rate: 100
Last Updated: 7/9/2024

Overview / Comments

This investment opportunity comprises two buildings on a single lot, with ample parking for all tenants. The main building at 145 Union Ave features six spacious 3-bedroom, 1-bathroom apartments, while the duplex at 153 Union Ave includes one 2-bedroom unit and one 1-bedroom unit.
Recent upgrades to the 6-unit building include a new roof, two additional top-floor units, and extensive renovations such as new kitchens, updated windows, refreshed flooring, bathrooms, paint, plumbing, and electrical fixtures. The parking lot, repaved this year, offers 13 spaces. Other improvements include updated heating and electrical systems, new mini-split systems in the top-floor units, and high-efficiency boilers. Separate electric meters are in place, with tenants responsible for their own bills.

This property is an enticing investment opportunity, combining modern amenities, a prime location, and thoughtful long-term renovations, making it perfect for a 1031 exchange.

Attachments & Media

Additional Details

Nearest MSA: Laconia
County: Belknap
Tax ID/APN: 432-220-59
Zoning: UC
Percent Occupied: 100%
Highway Access: US-3
Airports: Laconia Municipal Airport, 9 minutes away
Site Description: Located a short walk from downtown Laconia, the property provides easy access to shops, restaurants, gyms, theaters, walking trails, a hospital, and skiing. Tenants enjoy beautiful views and the convenience of town water and sewer.
Area Description: Nestled in the heart of Laconia, NH, the property provides a compelling opportunity for multifamily investors. Surrounding the area, residents enjoy easy access to the scenic Lake Winnipesaukee and the inviting Weirs Beach, offering an array of recreational opportunities. The nearby area also features diverse dining options, local shops, and the renowned annual motorcycle rally, fostering a vibrant and engaging community. With seamless connectivity to major highways, this location is an attractive prospect for multifamily and low-rise/garden investments, offering residents an ideal blend of convenience and leisure within a picturesque New England setting.
Total Number of Buildings: 2
Number of Stories: 3
Year Built: 1880
Year Renovated: 2023
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Top floor was completely rebuilt (new construction) New windows and siding Brand new roof on the 6-unit building
Parking Type: Surface
Parking Description: Driveway is freshly repaved.
Total Parking Spaces: 13
Heat Type: Hot Water
Fuel: Gas, Oil
Interior Description: Six-Unit at 145-147 Union Ave: apartments were updated with new flooring, cabinets, countertops, appliances, bathrooms, paint, plumbing fixtures, and electrical fixtures. Duplex at 153 Union Ave: some of the recent updates include new flooring, bathrooms, paint, plumbing fixtures, and electrical fixtures.
Zoning Description: UC
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,724 18,411 27,413
Median Age: 37.69 42.73 43.71
Households: 2,861 7,690 11,456
© Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Moody's assume any liability for errors or omissions.