List Price: $515,000 | $254 per sq.ft. Multi Family A 2 Unit Multi Family Home
With 0 One Bedroom Units , 2 - Two Bedroom Units ,0 - Three Bedroom Units
Listed Friday Sep 4, 2026 | MLS# 5108239
463 Lake Avenue Manchester NH
Listed by Nick Gray Gray Property Group, LLC
Turnkey duplex in Manchester's Hanover Hill neighborhood, offering two well-maintained 2-bedroom, 1-bathroom units with functional layouts, stainless steel appliances, and durable vinyl plank flooring. Both units feature washer/dryer hookups, separate electric water heaters, and independent natural gas boilers. Tenants are responsible for heat, hot water, and electricity, while the landlord pays public water and sewer. The property is conveniently located with easy access to Downtown Manchester and Elm Street, the South Willow Street commercial district, and Elliot Hospital. Downtown's restaurants, shops, and entertainment are just minutes away, while the South Willow Street corridor provides convenient access to a wide variety of retail, dining, and everyday amenities. Elliot Hospital is less than a mile from the property, adding further appeal for healthcare professionals and hospital employees. The current owner has taken excellent care of the property, which features a 1-year-old roof, vinyl windows, and a clean, dry basement. A paved driveway and side parking area provide off-street parking for at least two vehicles, with the potential for up to four vehicles with tandem parking. The property is intentionally being marketed vacant, providing an owner-occupant or investor with the opportunity to take immediate possession and select their own tenants. The units were most recently rented for $1,875/month on the first floor and $1,850/month on the second floor. Pro forma financials reflect ~$45,000 in annual gross revenue and ~$29,000 in net income after operating expenses. Whether you are looking to expand your portfolio or owner-occupy, 463 Lake Avenue offers a rare turnkey opportunity in a convenient location. With proximity to Downtown, the South Willow commercial district, and Elliot Hospital, combined with a well-maintained property and established rental history, this duplex is ready for its next owner. Operating Expenses : Insurance,Maintenance,Professional Management,Snow Removal,Trash,Utilities,Water/Sewer
Annual Expenses

Taxes: $6,102
Income
Gross Income | $45,060
NetIncome | $28,980
Appliances : Electric Water Heater

UNIT 1

Beds: 2
Baths: 1
Rooms: 0
Status : Vacant

UNIT 2

Beds: 2
Baths: 1
Rooms: 0
Construction: Wood Frame | Clapboard Exterior
Year Built: 1880
Style: Duplex
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 3164
Above Grade Sq.Ft.: 2028
Basement: Unfinished
Roof: Asphalt Shingle
Seasonal: No
Heating: Natural Gas
Cooling: None
Electric: 100 Amp Service
Utilities: Cable | Gas On-Site
Electric Meters: 2
Gas_Meters: 2
Water: Public
Sewer: Public
Land Information
City Lot
Lot size: 0.07 acres
Zoned: MX-2)
Surveyed: Unk
Flood Zone: No
Road Frontage: 40
Driveway: Paved


Block - 1
Taxes $6,102
Assesed Value Not Reported
Schools

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