524 Sunapee St - Apartments FOR SALE


Newport, NH 03773
$1,750,000 USD
603-932-3011
524 Sunapee St, Newport, NH for Sale
$1,750,000 USD
Apartments - FOR SALE
1/19
null | 7.7% Cap Rate

524 Sunapee St
Newport, NH 03773


HIGHLIGHTS

  • Stabilized building
  • Significant capital improvements
  • Located on the Sunapee/Newport line

OVERVIEW

Introducing Newport Heights; a 12-unit multifamily investment property located near the border of Newport and Sunapee. Offered individually for sale at $1,750,000, this well-maintained apartment building features a diversified unit mix of one-bedroom, oversized one-bedroom, and two-bedroom apartments, providing broad tenant appeal and stable occupancy potential within the greater Newport market. The building has undergone significant capital improvements, including renovations of all residential units and common areas, a roof replacement, electrical service and panel upgrades, plumbing improvements, and the installation of electronic locks on unit doors. Minimal near-term capital expenditure remain for future ownership allowing for a turnkey, multifamily investment. The heating system consists of an efficient, Buderus-brand oil-fueled forced hot water boiler providing individually zoned baseboard heat throughout the building. Newport Heights benefits from functional on-site amenities, including one off-street parking space per unit and a coin-operated laundry facility that provides supplemental income. The basement also contains additional space that could be converted into tenant storage lockers, creating an opportunity for future ancillary revenue. With its recent renovations, efficient unit mix, and potential for additional income streams, Newport Heights represents a stabilized multifamily investment opportunity with operational upside in a growing Sullivan County market. Broker Interest. Financials available upon execution of NDA.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$151 USD /SF

# OF UNITS

12

PRICE/UNIT

$145,833

CAP RATE

7.7%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Newport Heights

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

Light Commercial

APN/PARCEL ID

NWPT-000103-035000

ASK ABOUT THIS PROPERTY

Matt LefebvreDowntown RealtyMore Info
603-932-3011

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Matt LefebvreDowntown RealtyMore Info
603-932-3011

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