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Listed by Nick Gray • Gray Property Group, LLC
$ 1,130,000
Est. payment /mo
New
261 Union AVE Laconia, NH 03264
8 Beds
8 Baths
5,338 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,338 sqft
Price per Sqft $211
MLS Listing ID 5092356
Bedrooms 8
Full Baths 8
Construction Status Existing
Year Built 1885
Lot Size 3,484 Sqft
Acres 0.08
Property Description
9-unit mixed use property in central Laconia consisting of eight 1-bedroom apartments and a 928 SF commercial space. The building has been improved through updates to several apartments and the common areas, and the roof was replaced in 2021. All 8 apartments are occupied and rents are terrific with an average residential rent of $1,432/unit/month, and opportunity exists for the next owner to add revenue by leasing the commercial space. In total, the property generates ~$155K in pro forma gross revenue and ~$105K per year in NOI, corresponding to a 9.3% cap rate at the asking price. Landlord pays for heat, hot water, cold water, and electricity. There are 6 off-street parking spaces and ample street parking in the immediate vicinity. Owner is a real estate licensee.
Location
State NH
County Nh-belknap
Area Nh-Belknap
Zoning UC
Rooms
Basement Entrance Walkout
Basement Concrete Floor, Dirt Floor
Interior
Cooling None
Exterior
Utilities Available Cable
Roof Type Asphalt Shingle
Building
Story 2.5
Sewer Public
Architectural Style Apartment Building
Construction Status Existing
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Shayla Faye
REALTOR® | License ID: 072650