9-Unit Multifamily Property
Multi-Family305 Cedar Street, Manchester, NH 03103
- Type
- Sale
- Status
- Active
- Asking Price
- $1,675,000
- Price/SF
- $227.71/SF
- Cap Rate
- 8.91%
- List Date
- Aug 17, 2026
- Available
- Aug 14, 2026
- Expiration
- Jul 31, 2027
- Days on Market
- 84
- Owner Financing Available
- No
- 1031 Exchange
- No
- Land Lease
- No
- Sale NOI
- $149,241
- Sale Total Expenses
- $72,168
- Sale Gross Income
- $221,410
- Owner Occupied
- No
- Tax Amount
- $16,692
- Tax Year
- 2025
- Last Verified
- Oct 27, 2026
- Agent Ownership Interest
- No
Showing Instructions
Contact Broker Nick Gray at ngray@graypropertygroup.com to schedule a showing. Please copy Kaitlyn Yeatman at kyeatman@graypropertygroup.com on all communications.
9-Unit Multifamily Property
Excellent 9-unit multifamily investment opportunity in Manchester consisting entirely of spacious 2- and 3-bedroom apartments. The property generates strong rental income, with current rents averaging approximately $1,900/month for 2-bedroom units and $2,500/month for 3-bedroom units. Several units have recently been turned with modest updates, providing a clean, attractive product while maintaining an opportunity for a new owner to continue improving the property and increasing rents over time. The landlord pays for natural gas heat, hot water, and water/sewer. The property is heated by a natural gas boiler, which also provides hot water to three units, while the remaining six units are served by three electric water heaters. Tenants are responsible for their own electricity. The property offers approximately five off-street parking spaces, with additional street parking available in the surrounding neighborhood. Pro forma rents are approximately $229K/year, with pro forma NOI of approximately $149K/year, representing an 8.3% cap rate at the asking price. This is a strong opportunity to acquire a well-located, income-producing multifamily property with a solid unit mix, strong rental income, and additional long-term upside.
Space Details
- Available SF
- 7,356 SF
- 305 Cedar Street - Residential Disclosure.pdf
- 305 Cedar Street - Multifamily Disclosure.pdf
- 305 Cedar Street - Lead Based Paint Disclosure.pdf
- 305 Cedar Street - Pro Forma Financials.xlsx - Profit & Loss.pdf
- 305 Cedar Street - Rent Roll - August 2026.xlsx - Rent Roll (1).pdf
- 305 Cedar Street Tax Card (1).pdf
- Map
- 0070/0012
- Assessor
- Assessor record
- Type
- Sale
- Status
- Active
- Asking Price
- $1,675,000
- Price/SF
- $227.71/SF
- Cap Rate
- 8.91%
- List Date
- Aug 17, 2026
- Available
- Aug 14, 2026
- Expiration
- Jul 31, 2027
- Days on Market
- 84
- Owner Financing Available
- No
- 1031 Exchange
- No
- Land Lease
- No
- Sale NOI
- $149,241
- Sale Total Expenses
- $72,168
- Sale Gross Income
- $221,410
- Owner Occupied
- No
- Tax Amount
- $16,692
- Tax Year
- 2025
- Last Verified
- Oct 27, 2026
- Agent Ownership Interest
- No
Showing Instructions
Contact Broker Nick Gray at ngray@graypropertygroup.com to schedule a showing. Please copy Kaitlyn Yeatman at kyeatman@graypropertygroup.com on all communications.
9-Unit Multifamily Property
Excellent 9-unit multifamily investment opportunity in Manchester consisting entirely of spacious 2- and 3-bedroom apartments. The property generates strong rental income, with current rents averaging approximately $1,900/month for 2-bedroom units and $2,500/month for 3-bedroom units. Several units have recently been turned with modest updates, providing a clean, attractive product while maintaining an opportunity for a new owner to continue improving the property and increasing rents over time. The landlord pays for natural gas heat, hot water, and water/sewer. The property is heated by a natural gas boiler, which also provides hot water to three units, while the remaining six units are served by three electric water heaters. Tenants are responsible for their own electricity. The property offers approximately five off-street parking spaces, with additional street parking available in the surrounding neighborhood. Pro forma rents are approximately $229K/year, with pro forma NOI of approximately $149K/year, representing an 8.3% cap rate at the asking price. This is a strong opportunity to acquire a well-located, income-producing multifamily property with a solid unit mix, strong rental income, and additional long-term upside.
Space Details
- Available SF
- 7,356 SF
- 305 Cedar Street - Residential Disclosure.pdf
- 305 Cedar Street - Multifamily Disclosure.pdf
- 305 Cedar Street - Lead Based Paint Disclosure.pdf
- 305 Cedar Street - Pro Forma Financials.xlsx - Profit & Loss.pdf
- 305 Cedar Street - Rent Roll - August 2026.xlsx - Rent Roll (1).pdf
- 305 Cedar Street Tax Card (1).pdf
- Map
- 0070/0012
- Assessor
- Assessor record