Exceptional, 5-unit multifamily property located on Manchester's desirable East Side. The strong unit mix consists of one 4-bedroom, two 3-bedroom, one 2-bedroom, and one 1-bedroom apartment. The current owner has significantly improved the property, which now features new vinyl plank flooring, updated wooden cabinets, fresh paint throughout, and new bathroom vanities complete with modern fixtures. Washer and dryer hookups are conveniently located in each individual unit, and there is ample street parking available in the immediate vicinity.The financial performance is outstanding when fully occupied, generating $10,300/month (approximately $123,600/year) in gross revenue. Tenants pay their own separate utilities, including heat, hot water, and electricity. Producing roughly $100,000/year in Net Operating Income (NOI), this asset represents a strong 9.0% cap rate, with even further rental upside potential for a new owner willing to continue renovations.
Construction: Other | Vinyl Siding
Year Built: 1883
Style: Apartment Building
Floors | Stories: 2.5
No. Elevators:
Total Sq.Ft. Finished: 7781
Above Grade Sq.Ft.: 5884
Basement: Dirt
Roof: Membrane | Rolled
Seasonal: No
Heating: Natural Gas | Baseboard
Cooling: None
Electric: 60 Amp Service
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Sidewalks
Lot size: 0.06 acres
Zoned: RES 4-8UNIT MDL-03)
Surveyed: Unk
Flood Zone: No
Driveway: None