3 Unit in Manchester, NH | FOR SALE| $289,999

[Matt Lefebvre]

618 Prescott St | 3 Unit | For Sale | $289,999

ADDRESS:  618 Prescott Street, Manchester, NH 03103

PRICE:  $289,999

UNITS:  3 (3BRs)

2018 PROJECTED INCOME:  $35,100

2018 PROJECTED EXPENSES: $9,783

PROJECTED SALE CAP RATE: 8.7%

CAN BE OWNER OCCUPIED:  YES

DESCRIPTION:  This well-maintained, three-family property is located in a quiet area and set back from the road. While this building is currently fully occupied with multi-year tenants, this provides a great opportunity for an owner occupant as all tenants are on month-to-month leases. The owner has invested a lot of money into the building including separating all utilities in the building, renovating all of the apartments, installing gas parlor heaters less than five years ago, installing hot water heaters less than five years ago, separating electric circuit break panels for each unit, and putting on a new rubber roof on less than ten years ago. Each apartment also features "backup" electric baseboard heaters just in case anyone isn't feeling warm enough! As an investment, this building has a solid rent roll with some potential to grow, pulling in approximately $35,000 a year in income, and with separate utilities, expenses run under $10,000 a year! If you're looking for a great opportunity to live rent-free, consider this investment your next home.

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Matthew Lefebvre

Elm Grove Realty

M. 603-554-2309 | O. 603-505-4900

[email protected]

NH License #070207

KEYWORDS: nh, new hampshire, ma, massachusetts, manchester