492-494 Wilson St - Apartments FOR SALE


Manchester, NH 03103- Kalivas-Union
$1,100,000 USD
978-270-5225
492-494 Wilson St, Manchester, NH for Sale
$1,100,000 USD
Apartments - FOR SALE
1/41
null | 9.09% Cap Rate

492-494 Wilson St
Manchester, NH 03103
Kalivas-Union


HIGHLIGHTS

  • Value Add opportunity
  • Great Location
  • Strong Multi Family Investment Potential

OVERVIEW

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 inNet 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.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

5

PRICE/UNIT

$220,000

CAP RATE

9.09%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wilson Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1883

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,098 SF

ZONING

MX-2

APN/PARCEL ID

MNCH-000127-000000-000017

ASK ABOUT THIS PROPERTY

AJ PappaseXp RealtyMore Info
978-270-5225

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AJ PappaseXp RealtyMore Info
978-270-5225

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.