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187,355-357,489 Merrimack, & Pine StreetManchester, NH 03104MLS Number 5022060

  • Price: $3,049,900
  • Est. Mortgage of $/month
  • 19 Days on Market
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$
%
$/month over payments
Federal 30-year interest rate: 6.81% last updated on Nov 27, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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  • 20Bathrooms
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 Mike Giannone of The Aland Realty Group

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Gilman Real Estate
Gilman Real Estate
Office: 603-772-0808
39 Front St
Exeter, NH 03833

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Tax Information

  • Tax Year2024

Building

  • Year Built1920
  • Building ConstructionWood Frame, Vinyl Siding
  • Units19
  • # of 1 Bedrooms10
  • # of 2 Bedrooms8
  • # of 3+ Bedrooms1
  • Bathroom20
  • Total Baths20
  • Basement
    • Bulkhead
    • Concrete
    • Concrete Floor
    • Dirt
    • Dirt Floor
    • Exterior Access
    • Full
    • Insulated
    • Interior Access
    • Other
    • Stairs - Basement
    • Stairs - Exterior
    • Stairs - Interior
    • Storage - Assigned
    • Storage - Locked
    • Storage Space
    • Unfinished
  • FoundationConcrete, Poured Concrete

Basic Information

  • StatusACT
  • List Price$3,049,900
  • Date Price Change11/13/2024
  • MLS Number5022060
  • MLS StatusActive

Property

  • Acreage0.4
  • GarageYes
  • Parking Spaces1
  • Lot DescriptionLevel
  • Lot15
  • Square Feet12,271
  • APX Fin AG Sqft12,271
  • Road Frontage200
  • AreaNH-Hillsborough

Water Body

  • Water AccessNo
  • Water ViewNo

Location

  • TownManchester
  • StateNH
  • Zip03104
  • CountyHillsborough
  • ZoningR3
  • Address187,355-357,489 Merrimack, & Pine Street
  • Flood Zone Y/NNo

Exterior

  • RoofShingle - Asphalt

Utilities

  • Heat SystemPropane, Natural Gas, Oil, Hot Air, Hot Water, Space Heater
  • Electric100 Amp
  • SewerPublic
  • UtilitiesGas - On-Site

Amenities

  • PricePerSqFt248.55

Other

  • Taxes$27,755.24
  • Seasonal Y/NNo
  • Operating Expenses84192
  • Date Listed11/13/2024
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Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. 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 December 2, 2024 3:23 AM EST

 

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