List Price: $800,000 | $150 per sq.ft. Multi Family A 3 Unit Multi Family Home
With 0 One Bedroom Units , 0 - Two Bedroom Units ,3 - Three Bedroom Units
Date Listed Monday Nov 11, 2024 | MLS# 5021768
With 0 One Bedroom Units , 0 - Two Bedroom Units ,3 - Three Bedroom Units
Date Listed Monday Nov 11, 2024 | MLS# 5021768
Welcome to 359-361 Lake Avenue
Three Floors with Nearly 1800 sg ft Each
Three Separate Entrances
Each Unit is Identical
Both On and Off Street Parking
Even Comes with a Garage
Very Well Kept Investment Property
Owner Occupied is a Great House Hack
Bird's Eye View
Even Has a Yard!
Not Far from Downtown Manchester
Each Unit Has its Own Balcony/Porch
Every Unit Completely Redone in the Last 3 Years
All New Appliances
Great Use of Space
The Hard Work Has Been Done
Photos Taken Prior to Tenants Moving In
All New Bathrooms
Each Unit Has One Bath
Laundry Room has Loads of Space
Each Unit Has a Washer and Dryer
Photos Taken Prior to Tenants Moving In
Each Unit has 4 Bedrooms-A Rare Find
Hardwood and Vinyl/Laminate Throughout
Fully Leased and Ready for the Next Owner
Photos Taken Prior to Tenants Moving In
Photos Taken Prior to Tenants Moving In
To see this Listing
Address: 359-361 Lake Avenue Manchester NH
Listed by Bobbie Gaudette Keller Williams Realty Metro-Concord
Description:
This centrally located three-family property in the heart of Manchester presents a prime opportunity for both owner-occupants and investors. Multi-family properties like this are an excellent strategy for those looking to build equity and generate steady income. Each of the three expansive units spans over 1,700 sq. ft., featuring an identical, spacious floor plan with four bedrooms, one bathroom, a fully equipped kitchen, and a dedicated laundry room complete with washer and dryer. All units have been meticulously updated within the past three years, ensuring a modern and well-maintained interior for tenants. Currently, each unit is leased with tenants covering all utilities, including heat, hot water, and electricity. This property has a solid rental history, delivering reliable cash flow, and is fully compliant with current market demands. Photographs were taken post-renovation and before tenant occupancy, capturing the quality and condition of the units. A quick closing is possible, making this property an ideal acquisition for buyers seeking a seamless investment in a desirable, high-demand area. Please note a minimum of 24 hours notice is required for showing.
Annual Expenses
Taxes: $8,811
Taxes: $8,811
Income
Gross Income | $81,000
Gross Income | $81,000
Appliances : Water Heater – Owned | Water Heater – Separate
UNIT 1 INFORMATION
Beds: 4
Baths: 1
Rooms: 8
Sq.Ft.: 1774
Level: 1
Info : Appliances Included,Dryer,Range - Electric,Refrigerator,Washer
Tenant Pays : Electric,Heat,Hot Water
Rent : 2150.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 2 INFORMATION
Beds: 4
Baths: 1
Rooms: 8
Sq.Ft.: 1774
Level: 2
Info : Appliances Included,Dryer,Range - Electric,Refrigerator,Washer
Tenant Pays : Electric,Heat,Hot Water
Rent : 2300.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 3 INFORMATION
Beds: 4
Baths: 1
Rooms: 8
Sq.Ft.: 1774
Level: 3
Info : Appliances Included,Dryer,Range - Electric,Refrigerator,Washer
Tenant Pays : Electric,Heat,Hot Water
Rent : 2300.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
Construction: Wood Frame | Vinyl Siding
Year Built: 1905
Style: Multi-Family | Multi-Level
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 7096
Above Grade Sq.Ft.: 5322
Basement: Full | Storage Space | Unfinished | Walkout
Foundation: Granite
Year Built: 1905
Style: Multi-Family | Multi-Level
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 7096
Above Grade Sq.Ft.: 5322
Basement: Full | Storage Space | Unfinished | Walkout
Foundation: Granite
Exterior Color: White
Roof: Flat | Rolled
Garage And Parking: Off Street | On Street
Seasonal: No
Roof: Flat | Rolled
Garage And Parking: Off Street | On Street
Seasonal: No
Heating: Natural Gas | Gas Heater | Hot Water
Cooling: None
Electric: 100 Amp | Circuit Breaker(s)
Trash: Curbside | Municipal
Utilities: Cable | Phone
Electric Meters: 4
Water: Public Water - On-Site
Sewer: Public
Cooling: None
Electric: 100 Amp | Circuit Breaker(s)
Trash: Curbside | Municipal
Utilities: Cable | Phone
Electric Meters: 4
Water: Public Water - On-Site
Sewer: Public
Land Information
City Lot | In Town | Near Hospital
Lot size: 0.15 acres
Zoned: Residential-Multi)
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Driveway: Paved
City Lot | In Town | Near Hospital
Lot size: 0.15 acres
Zoned: Residential-Multi)
Surveyed: Unk
Flood Zone: No
Roads: Paved | Public
Driveway: Paved
Additional Information
Block - 9
Taxes $8,811
Assesed Value Not Reported
Block - 9
Taxes $8,811
Assesed Value Not Reported
Schools
School District: Manchester Sch Dst SAU #37
Elementary School: McDonough School
Middle School: Hillside Middle School
High School: Central High School
School District: Manchester Sch Dst SAU #37
Elementary School: McDonough School
Middle School: Hillside Middle School
High School: Central High School
