Fully Occupied 6-Unit Multifamily Investment | Manchester, NH

Fully Occupied 6-Unit Multifamily Investment | Manchester, NH

406 Belmont Street, Manchester, NH

$850,000

Asking Price

Property Details

Asking Price

$850,000

Building Size

4,464 SF

Lot Size

0.1 Acres

Zoning

MX-2

Year Built

1920

This six-unit multifamily asset in Manchester, NH offers a fully occupied, low-maintenance investment in a strong urban submarket. This city lot has limited landscaping maintenance and features one paved, off-street parking space per unit behind the building. The five 1-bedroom units have been renovated by the current ownership and have a mix of refinished hardwood and vinyl plank flooring throughout along with new kitchens, appliances, and fixtures. The sole studio unit remains unrenovated but is kept in excellent condition by a long-term resident. Landlord pays for heat, hot water, and water/sewer, while tenants are responsible for their own electric. Other major upgrades during the current ownership include, a full vinyl siding wrap, replacement of natural gas water heater, replacement of front decks, and the upgrade of electrical service and panels to individual 100-amp circuit breakers. Rents are slightly below-market throughout the property with a current gross annual rent projected at $100,800 and a proforma potential of $108,000 as rents are adjusted toward market levels. With all six units fully occupied and rents already near market, this offering presents a stable, turnkey opportunity for an investor seeking a low-management asset with modest, steady upside.

Listing Contacts

Matthew Lefebvre
Matthew Lefebvre

Principal Broker

NH# 078360

603 554 2309

[email protected]

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Property Information

County

Hillsborough

Zoning

MX-2

Year Built

1920

Gross Building Area

4,464 SF

Net Rentable

3,348 SF

Lot Size

0.1 Acres

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