7 Unit Multifamily - For Sale - North End of Nashua New Hampshire
14-16 LOCK STREET, NASHUA, NH 03064 - 7 UNIT MULTIFAMILY - $699,999
Located in the North End of Nashua, this well-built, brick seven-unit investment property is a great addition to any portfolio. Less than a block away from Main Street and just north of the Nashua River, this property is a part of the growing downtown. With gross rents in excess of $84,000 annually, very stable tenants, and low expenses, this property is a huge money maker. Tenants pay their own electric and some tenants pay their own heat and hot water, which provides some opportunity to further reduce expenses. Ten parking spaces are leased from abutting property for a total of $200/mo. If you're looking for a stable investment property, then look no further than this great addition to any rental portfolio.
FINANCIALS:
Gross Annual Income: $84,456
Taxes: $10,303
Insurance: $2,791
Heat: $3,500
Electricity: $2,800
Water/Sewer: $1,200
Parking: $2,175
Operating Expenses: $22,769
Net Income: $61,687
Projected Cap Rate: 8.8%
CONTACT:
Elm Grove Realty
Matthew Lefebvre
Office: 603-505-4900 - Cell: 603-554-2309
