1279 Elm Street

    Manchester, NH 03101
    • $2,340,000
    • STATUS: Active
    • ON SITE: 59 days
    • MLS #: 4737345
    UPDATED: 33 min ago
    $2,340,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 29
      BATHS
    • 0
      1/2 BATHS
    • 19,981
      SQFT
    • $117
      $/SQFT
    Type:
    Multi-Family
    Built:
    1890
    County:
    Area:

    School Ratings & Info

    Courtesy of Matthew Lefebvre of Elm Grove Realty.

    Description

    With a premiere location on the corner of Elm Street and Orange Street, this 29 unit building is a unique investment opportunity. Comprised of 7 commercial units, 8 studio apartments, 11 one bedroom apartments, and 3 two bedroom apartments, this property has a solid mix of unit types and income sources. With the same ownership for 26 years, this building has HUGE value-add potential. Many units have not been renovated recently and have the potential for rents to be increased substantially. Additional cost-saving measures could be applied by separating utilities and cutting operating expenses substantially. Many major capital improvements have already been made to this building including installation of rubber membrane roofs, upgrading windows to vinyl replacement, renovation and buildout of several commercial units, and more. This property is located in a Qualified Opportunity Zone.

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    © Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2019-04-22T14:05:53.34.
    www.bestseacoasthomes.com/homes/92029278

    1279 Elm Street Manchester, NH 03101

    • Price: $2,340,000
    • Status: Active
    • Updated: 33 min ago
    • MLS #: 4737345
    0
    Beds
    29
    Baths
    0
    ½ Baths
    0.25
    Acres
    19,981
    SQFT
    $117
    $/SQFT
    1890
    Built
    County:
    Hillsborough
    Area:
    Manchester
    Property Description
    With a premiere location on the corner of Elm Street and Orange Street, this 29 unit building is a unique investment opportunity. Comprised of 7 commercial units, 8 studio apartments, 11 one bedroom apartments, and 3 two bedroom apartments, this property has a solid mix of unit types and income sources. With the same ownership for 26 years, this building has HUGE value-add potential. Many units have not been renovated recently and have the potential for rents to be increased substantially. Additional cost-saving measures could be applied by separating utilities and cutting operating expenses substantially. Many major capital improvements have already been made to this building including installation of rubber membrane roofs, upgrading windows to vinyl replacement, renovation and buildout of several commercial units, and more. This property is located in a Qualified Opportunity Zone.
    Exterior Features

    Area Description Business DistrictCommercial ZoningIn TownNear ShoppingNear Public Transportatn Construction Wood Frame Driveway Paved Exterior BrickStuccoVinyl Siding Has Garage No Lot Description City Lot Parking LeasedOff-SiteOn-SitePaved Road Frontage Tbd Roads PavedPublic Roof FlatMembrane Style Apartment BuildingMulti-Family

    Interior Features

    Basement Access Type Walk-Up Basement Description BulkheadDirt FloorNo Tenant AccessStairs - ExteriorStairs - InteriorSump PumpUnfinished Cooling None Flooring CarpetLaminateVinyl Foundation Fieldstone Has Basement Yes Heating Steam Total Heated Units 3 Total Ranges 22 Total Refrigerators 22 Total Water Heaters 2 Water Heater Electric

    Property Features

    Assessment Year 2018 Auction No Construction Status Existing Easements Unknown Electric 3 PhaseCircuit Breaker(S) Expenses Insurance 11570 Flood Zone No Gross Income 296928 Heat Fuel Oil Pre Construction No Seasonal No Separate Utilities No Sewer Public Tax Gross Amount 24160 Tax Year 2018 Taxes Tbd No Total Electric Meters 1 Total Gas Meters 0 Total1 Bed Units 11 Total2 Bed Units 3 Total3 Plus Bed Units 0 Water Public Zoning Cbd

    Courtesy of Matthew Lefebvre of Elm Grove Realty.


    © Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2019-04-22T14:05:53.34.
     
    Keller Williams Coastal Realty
    750 Lafayette Road, Suite 201
    Portsmouth NH, 03801
    Courtesy of Matthew Lefebvre of Elm Grove Realty.