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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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305-309 Cedar St , Manchester, NH 03103
$1,795,000
Est. Payment: $3,988.89/mo
0 Bed
0 Bath
7356 Sqft
Status: Active | Days on site: 20
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5996 - 620367
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House Description

Excellent 9-unit multifamily investment opportunity in Manchester consisting entirely of spacious 2- and 3-bedroom apartments. The property generates strong rental income, with current rents averaging approximately $1,900/month for 2-bedroom units and $2,500/month for 3-bedroom units. Several units have recently been turned with modest updates, providing a clean, attractive product while maintaining an opportunity for a new owner to continue improving the property and increasing rents over time. The landlord pays for natural gas heat, hot water, and water/sewer. The property is heated by a natural gas boiler, which also provides hot water to three units, while the remaining six units are served by three electric water heaters. Tenants are responsible for their own electricity. The property offers approximately five off-street parking spaces, with additional street parking available in the surrounding neighborhood. Pro forma rents are approximately $229K/year, with pro forma NOI of approximately $149K/year, representing an 8.3% cap rate at the asking price. This is a strong opportunity to acquire a well-located, income-producing multifamily property with a solid unit mix, strong rental income, and additional long-term upside.

Highlights

Listed by Nick Gray , 603-637-4812 Gray Property Group, LLC , 603-637-4812.

Property Type

Multi-Family

Lot/Acreage
0.11

Year Built

1910

County

Hillsborough

Listing ID

5105141

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Above Ground Sq Ft:7356
Basement:Yes,Unfinished

Exterior Features

Lot:Existing
Zoning:MX-2
Roof:Flat,Tar and Gravel
Sewer:Public
Principal Interest
$3,989
Taxes
$1,391

Home Price

$1,795,000

Loan Details

30 yrs
%

Down Payment

20%
$359,000
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Monthly Price:
$3,988.89

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,988.89 $1,391.00 $0.00 $5,379.89
Yearly $47,866.67 $16,692.00 $0.00 $64,558.67
Total $1,436,000.00 $500,760.00 $0.00 $1,936,760.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Manchester, NH).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.