Listed by NorthEast Private Client Group Newton, NorthEast Private Client Group Shelton
$5,600,000
Main Street Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,250
Units 41
Cap Rate 7.03%
NOI $393,618
Tenancy Multi
Pro-Forma Cap Rate 7.41%
Pro-Forma NOI $415,145
Buildings 1
Investment Type Stabilized
Multifamily | 7.03% CAP | 41 Units
Marketing description
Northeast Private Client Group is pleased to present the Main Street Apartments located at 90 Main Street in Allenstown, New Hampshire.
Formerly a hotel, the property now consists of 41 studio apartments with 24 self-storage units and a private parking lot. Tenants enjoy landlord paid utilities and an on-site coin-op laundry facility. Over the last five years there have been significant unit, exterior, and mechanical upgrades.
A new owner has the opportunity to acquire a turnkey, brick-faced building with stabilized apartment rents and upside from storage and laundry. All qualified and interested parties will have the opportunity to receive more detailed information and tour the property during scheduled showings.
Investment highlights
- 41-Unit Multifamily Property | Studio Apartments
- Outdoor Storage Units | Private Parking Lot
- All Units Updated in Last Four Years
- On-Site Coin-Op Laundry Facility
- Stabilized Rent Roll
Listing Contacts
Listed by NorthEast Private Client Group Newton, NorthEast Private Client Group Shelton
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$393,618.00
$32,801.50/mo
Valuation Metrics
0
DSCR
7.03%
Cap Rate
7.03%
ROI
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