470 Spruce Street Manchester NH Multi Family For Sale $650000

List Price: $650,000 | $196 per sq.ft. Multi Family A 3 Unit Multi Family Home
With 0 One Bedroom Units , 0 - Two Bedroom Units ,3 - Three Bedroom Units
Under Contract Date Listed Thursday Jun 6, 2024 | MLS# 4999294

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Address: 470 Spruce Street Manchester NH
Listed by Savannah Levasseur Keller Williams Realty-Metropolitan
Description:
Welcome to 470 Spruce Street, a beautifully maintained 3-family home that represents a sound investment opportunity for those seeking a property that is already income-producing. This exceptional property features three spacious three-bedroom units, currently grossing a monthly income of $6,280, while the first floor unit is rented under value. Each unit is designed for comfort and practicality, making it highly attractive to tenants and ensuring consistent rental income. A standout feature of this property is the three-stall garage and additional parking, a rare and valuable amenity in the city that enhances its rental appeal. While the owner covers gas expenses, the overall property expenses are kept impressively low, maximizing net income and ensuring a strong return on investment. The well-maintained interiors and modern upgrades, including contemporary appliances and fresh paint, contribute to the property's desirability and tenant retention. Centrally located, 470 Spruce Street is conveniently close to schools, parks, shopping, dining, and major highways, offering easy access to all that Manchester has to offer. Whether you're a seasoned investor looking to expand your portfolio or a newcomer seeking a reliable income-generating property, this home offers both immediate returns and long-term growth potential. Don't miss out on this prime investment opportunity. Showings begin on Saturday, June 8th. 24 Hour notice required. OFFER DEADLINE 8PM 6/10. Thank you. Operating Expenses : Heat,Maintenance,Sewer,Water,Water/Sewer

Annual Expenses

Taxes: $7,749

Income
Gross Income | $75,360
NetIncome | $69,970

UNIT 1 INFORMATION

Beds: 3
Baths: 1
Rooms: 6
Sq.Ft.: 888
Level: 1
Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Range - Gas,Refrigerator,Smoke Detector
Tenant Pays : Electric
Rent : 1580.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Month to Month

UNIT 2 INFORMATION

Beds: 3
Baths: 1
Rooms: 6
Sq.Ft.: 888
Level: 2
Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Range - Gas,Refrigerator,Smoke Detector
Tenant Pays : Electric
Rent : 2200.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased

UNIT 3 INFORMATION

Beds: 3
Baths: 1
Rooms: 6
Sq.Ft.: 888
Level: 3
Info : Appliances Included,CO Detector,Heat - Gas,Heat Included,Other,Range - Gas,Refrigerator,Smoke Detector
Tenant Pays : Electric,Other
Rent : 2500.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased

Heating: Natural Gas | Steam
Cooling: None
Electric: 100 Amp
Utilities: Cable - Available
Electric Meters: 3
Gas_Meters: 1
Water: Included | Public
Sewer: Public

Land Information
City Lot | Curbing | Landscaped | Sidewalks
Lot size: 0.13 acres
Zoned: Residential)
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Driveway: Paved

Additional Information
Easement - Unknown
Block - 0035
Taxes $7,749
Assesed Value Not Reported

Schools
School District: Manchester Sch Dst SAU #37
Elementary School: Henry Wilson School
Middle School: Hillside Middle School
High School: Central High School

5 Old Nugget Alley, Hanover, NH 03755 603-643-3942

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