List Price: $3,049,900 | $672 per sq.ft. Multi Family A 5 Unit Multi Family Home
With 1 One Bedroom Units , 3 - Two Bedroom Units ,1 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022063
With 1 One Bedroom Units , 3 - Two Bedroom Units ,1 - Three Bedroom Units
Date Listed Wednesday Nov 13, 2024 | MLS# 5022063
To see this Listing
Address: 355-357 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! 355 - 357 Merrimack Street, Manchester, NH is a 5-unit multi-family property. This property features two structures; The first structure is 355 Merrimack Street, a single-family home with 3 bedrooms, 1 bathroom, and 1,220 square feet of living space. Great value-add potential. The second structure is 357 Merrimack Street which is a four-unit building that includes three (3) spacious two-bedroom, one-bathroom apartments ranging from 800 to 900 square feet, and one (1) - one bedroom, one bathroom, 600 square feet unit. Some units are renovated and move-in ready in the four-unit building. This property generates approximately $7600 in monthly gross rental income. This property must be sold as a part of the 19-unit portfolio; 187 Merrimack Street, MLS#5022061, 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/Sewer
Annual Expenses
Taxes: $8,736
Taxes: $8,736
Income
Gross Income | $91,200
NetIncome | $65,603
Gross Income | $91,200
NetIncome | $65,603
UNIT 1 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Sq.Ft.: 900
Tenant Pays : Electric
Rent : 1300.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Month to Month
UNIT 2 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Sq.Ft.: 900
Tenant Pays : Electric
Rent : 1700.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 3 INFORMATION
Beds: 2
Baths: 2
Sq.Ft.: 800
Tenant Pays : Electric
Rent : 1450.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Month to M
UNIT 4 INFORMATION
Beds: 1
Baths: 1
Sq.Ft.: 600
Tenant Pays : Electric
Rent : 1500.00 Monthly
Lease Term : Annual
Status : Leased
UNIT 5 INFORMATION
Beds: 3
Baths: 1
Rooms: 0
Sq.Ft.: 1220
Style : single family home
Tenant Pays : Electric,Heat,Hot Water
Rent : 1650.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Construction: Wood Frame | Vinyl Siding
Year Built: 1920
Style: Apartment Building
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6964
Above Grade Sq.Ft.: 4541
Basement: Unfinished
Foundation: Stone
Year Built: 1920
Style: Apartment Building
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6964
Above Grade Sq.Ft.: 4541
Basement: Unfinished
Foundation: Stone
Roof: Shingle - Asphalt
Garage And Parking: Off-Site | On-Site
Seasonal: No
Garage And Parking: Off-Site | On-Site
Seasonal: No
Heating: Natural Gas | Hot Water
Cooling: None
Electric: 100 Amp
Utilities: Cable | Other | Phone
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: 100 Amp
Utilities: Cable | Other | Phone
Electric Meters:
Water: Public
Sewer: Public
Land Information
Level
Lot size: 0.13 acres
Zoned: Residential)
Surveyed: No
Flood Zone: No
Roads: Public
Road Frontage: 80
Driveway: Paved
Level
Lot size: 0.13 acres
Zoned: Residential)
Surveyed: No
Flood Zone: No
Roads: Public
Road Frontage: 80
Driveway: Paved
Additional Information
Block - 0
Taxes $8,736
Assesed Value Not Reported
Block - 0
Taxes $8,736
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
