List Price: $940,000 | $213 per sq.ft. Multi Family
Price Change! Reduced by $2,109,900 down 224% on February 15th 2025
A 6 Unit Multi Family Home
With 2 One Bedroom Units , 4 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022061
Price Change! Reduced by $2,109,900 down 224% on February 15th 2025
A 6 Unit Multi Family Home
With 2 One Bedroom Units , 4 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022061
To see this Listing
Address: 187 Merrimack Street Manchester NH
Listed by Mike Giannone The Aland Realty Group
Description:
Part of a 19-unit portfolio located in Manchester, NH consisting of 3 separate properties. The portfolio must be sold together! Explore the possibilities with 187 Merrimack St, a multi-family residence in the heart of Manchester, NH, perfect for investors. Part value add, this multi-family property was constructed in 1910, stands 2.75 stories tall, and boasts a total of 10 bedrooms, 6 bathrooms, and 6 kitchens spread across 4,410 finished square feet. The property includes six (6)-units, four (4)-units with 2 bedrooms and 1 bathroom each, and two (2) units with 1 bedroom and 1 bathroom each, generating a monthly gross income of $9,800. Nestled in the Kalivas Union neighborhood, enjoy proximity to parks, shops, and entertainment. Conveniently located less than a mile from exit 5 Along Rt 293, it offers easy access to various amenities, making it ideal for daily activities and commuting. This property must be sold as part of the entire 19-unit portfolio; 355-357 Merrimack Street, MLS#5022063, and 489 Pine Street, MLS#5022062. Current Portfolio annual return over 7%+ CAP RATE. This portfolio offers excellent investment potential, with a combined annual gross income of over $311,520. Don't miss your chance to own this income-generating Multi-family portfolio in Manchester, NH! Operating Expenses : Heat,Insurance,Maintenance,Professional Management,Other,Snow Removal,Utilities,Water,Water/Sewer
Annual Expenses
Taxes: $10,113
Taxes: $10,113
Income
Gross Income | $97,500
NetIncome | $69,145
Gross Income | $97,500
NetIncome | $69,145
UNIT 1 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Sq.Ft.: 830
Level: 1
Tenant Pays : Electric,Heat
Rent : 1400.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 2 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Sq.Ft.: 883
Level: 1
Tenant Pays : Heat
Rent : 1400.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 3 INFORMATION
Beds: 2
Baths: 1
Sq.Ft.: 883
Level: 2
Tenant Pays : Electric,Heat
Rent : 1300.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Month to M
UNIT 4 INFORMATION
Beds: 2
Baths: 1
Sq.Ft.: 600
Level: 3
Tenant Pays : Electric,Heat
Rent : 1450.00 Monthly
Lease Term : Month to Month
Status : Month to Month
UNIT 5 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Sq.Ft.: 500
Tenant Pays : Electric,Heat
Rent : 1200.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
UNIT 6 INFORMATION
Beds: 1
Baths: 1
Sq.Ft.: 1175
Tenant Pays : Electric,Heat
Rent : 1300.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Month to Month
Construction: Wood Frame | Vinyl Siding
Year Built: 1910
Style: Apartment Building
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 6469
Above Grade Sq.Ft.: 4410
Basement: Unfinished
Foundation: Stone
Year Built: 1910
Style: Apartment Building
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 6469
Above Grade Sq.Ft.: 4410
Basement: Unfinished
Foundation: Stone
Roof: Slate
Garage And Parking: Off Street
Seasonal: No
Garage And Parking: Off Street
Seasonal: No
Heating: Natural Gas | Space Heater
Cooling: None
Electric: 100 Amp | Circuit Breaker(s)
Utilities: Cable | Cable - Available | Phone
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: 100 Amp | Circuit Breaker(s)
Utilities: Cable | Cable - Available | Phone
Electric Meters:
Water: Public
Sewer: Public
Land Information
Level
Lot size: 0.16 acres
Zoned: Residential R3)
Surveyed: No
Flood Zone: No
Road Frontage: 80
Driveway: Paved
Level
Lot size: 0.16 acres
Zoned: Residential R3)
Surveyed: No
Flood Zone: No
Road Frontage: 80
Driveway: Paved
Additional Information
Block - 0
Taxes $10,113
Assesed Value Not Reported
Block - 0
Taxes $10,113
Assesed Value Not Reported
Schools
School District: Manchester Sch Dst SAU #37
Elementary School: Beech Street School
Middle School: Southside Middle School
High School: Central High School
School District: Manchester Sch Dst SAU #37
Elementary School: Beech Street School
Middle School: Southside Middle School
High School: Central High School
