List Price: $3,049,900 | $249 per sq.ft. Multi Family A 19 Unit Multi Family Home
With 10 One Bedroom Units , 8 - Two Bedroom Units ,1 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022060
With 10 One Bedroom Units , 8 - Two Bedroom Units ,1 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022060
To see this Listing
Address: 187,355-357,489 Merrimack, & Pine Street Manchester NH
Listed by Mike Giannone The Aland Realty Group
Description:
An outstanding opportunity to invest in 3 multifamily properties in Manchester, NH. This portfolio includes 19 units with a 7%+ CAP return, located at 489 Pine Street, 187 Merrimack St, and 355-357 Merrimack St, Total portfolio gross monthly rents are $25,860, totaling a gross annual income of $311,520. Unit mix = (1) three-bedroom unit, eight (8) two-bedroom units, three (3) one-bedroom units, and seven (7) studio-style units. 489 Pine Street has 8 units, one (1) unit with 2 bedrooms & 1 bathroom, and seven (7) studio units with 1 bathroom each. Monthly gross returns total $10,210. 187 Merrimack St has six (6) units, two (2) - 1 bedroom and 1 bathroom units, and four (4) - 2 bedrooms, 1 bathroom units ranging between 500-1175 Sq ft. Monthly gross returns total $9800. 355-357 Merrimack St has five (5) total units across two (2) buildings/structures on one parcel. 355 is a single-family home detached that offers 3 bedrooms, and 1 bath across 1220 Sq Ft. Monthly gross returns total $7600. 357 Merrimack St, is a four (4) unit structure that has three (3)- 2 bedroom, 1 bath units, and one (1)- one bedroom, one bathroom unit. Take advantage of this opportunity to acquire a substantial multifamily portfolio in Manchester, NH all within 0.5 miles of each other including a unique unit mix. its individual property listing at 489 Pine St MLS#5022062, 187 Merrimack St MLS#5022061, 355-357 Merrimack St MLS#5022063. This property must be sold as a 19-unit portfolio. Operating Expenses : Insurance,Maintenance,Professional Management,Other,Snow Removal,Utilities,Water/Sewer
Annual Expenses
Taxes: $27,755
Taxes: $27,755
Income
Gross Income | $311,520
NetIncome | $221,532
Gross Income | $311,520
NetIncome | $221,532
Construction: Wood Frame | Vinyl Siding
Year Built: 1920
Style: Apartment Building | Detached | Multi-Family | Other | w/Addition
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 18118
Above Grade Sq.Ft.: 12271
Basement: Bulkhead | Concrete | Concrete Floor | Dirt | Dirt Floor | Full | Insulated | Other | Stairs - Exterior | Stairs - Interior | Storage - Assigned | Storage - Locked | Storage Space | Unfinished | Interior Access | Exterior Access | Stairs - Basement
Foundation: Concrete | Poured Concrete
Year Built: 1920
Style: Apartment Building | Detached | Multi-Family | Other | w/Addition
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 18118
Above Grade Sq.Ft.: 12271
Basement: Bulkhead | Concrete | Concrete Floor | Dirt | Dirt Floor | Full | Insulated | Other | Stairs - Exterior | Stairs - Interior | Storage - Assigned | Storage - Locked | Storage Space | Unfinished | Interior Access | Exterior Access | Stairs - Basement
Foundation: Concrete | Poured Concrete
Roof: Shingle - Asphalt
Seasonal: No
Seasonal: No
Heating: Propane | Natural Gas | Oil | Hot Air | Hot Water | Space Heater
Cooling: None
Electric: 100 Amp
Utilities: Gas - On-Site
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: 100 Amp
Utilities: Gas - On-Site
Electric Meters:
Water: Public
Sewer: Public
Land Information
Level
Lot size: 0.4 acres
Zoned: R3)
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Road Frontage: 200
Driveway: Paved
Level
Lot size: 0.4 acres
Zoned: R3)
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Road Frontage: 200
Driveway: Paved
Additional Information
Easement - No
Block - 0
Taxes $27,755
Assesed Value Not Reported
Easement - No
Block - 0
Taxes $27,755
Assesed Value Not Reported
Schools
