187,355-357,489 Merrimack, & Pine Street Manchester, NH
$3,049,900
Baths 20
Square Footage 12,271
Acres 0.40
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.
Listed by The Aland Realty Group, Mike Giannone
Details
MLS 5022060
Price $3,049,900
Status Active
DOM 67 days
Type Multi-Family
Style Apartment Building, w/Addition, Other, Multi-Family, Detached
Total Baths 20 full baths
Square Feet 12,271 sqft
Lot Size 0.40 acres
Year Built 1920
Taxes Paid $27,755
Lot & Building Features
Utilities Gas - On-Site
Construction Vinyl Siding, Wood Frame
Cooling None
Heating Hot Air, Space Heater, Propane, Oil, Natural Gas, Hot Water
Sewer Public
Tax Year 2024
Taxes Paid $27,755
Water Public
Basement Description Bulkhead, Unfinished, Storage Space, Storage - Locked, Storage - Assigned, Stairs - Interior, Stairs - Exterior, Stairs - Basement, Other, Interior Access, Insulated, Full, Exterior Access, Dirt Floor, Dirt, Concrete Floor, Concrete
Foundation Concrete, Poured Concrete
Lot Description Level
Roof Shingle - Asphalt
Garage Yes
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Financing
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6.75%
$
$
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per month
Principal & Interest
Monthly Taxes
Monthly HOA
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Monthly PMI
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