4 Elm ST, Lancaster, NH 03584
4 Elm ST, Lancaster, NH 03584
4 Elm ST, Lancaster, NH 03584
4 Elm ST, Lancaster, NH 03584
4 Elm ST, Lancaster, NH 03584
4 Elm ST, Lancaster, NH 03584
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Tim Cheney

Tim Cheney

+1(207) 200-3637
Listed by Nicole J Canavan • Rune Stone Realty
$ 1,400,000
Est. payment | /mo

11,178 SqFt

Save
$ 1,400,000
Est. payment | /mo
Save

11,178 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,178 sqft

Price per Sqft $125

MLS Listing ID 5081330

Construction Status Existing

Year Built 1910

Annual Tax Amount $17,438

Tax Year 2025

Lot Size 0.280 Acres

Acres 0.28

Property Description

Positioned in the heart of downtown Lancaster at the highly visible corner of Route 3 and Route 135, this 18-unit multifamily property offers investors an opportunity to acquire a stable, income-producing asset with a 7.06% cap rate. The property boasts a strong rental history with many long-term tenants, providing consistent cash flow and operational stability. Over the past several years, there have been significant capital improvements, enhancing both the functionality and long-term value of the asset. Recent upgrades include: *New rubber membrane roof *New oil tanks *Structural reinforcements *Interior apartment refreshes In addition, the fire and sprinkler system successfully passed its 5-year inspection, with ownership proactively completing all recommended (non-mandatory) improvements—demonstrating a high level of care and diligence. Looking ahead, a new boiler is scheduled for installation in May 2026, further improving efficiency and reducing future capital expenditure risk. Strategically located near major employers such as Weeks Medical Center, PAK Solutions, and Trividia Manufacturing, the property benefits from strong local demand and tenant retention. Its central location places residents within walking distance to downtown amenities, services, and major commuter routes. Investment Highlights: * 18 residential units * 7.06% cap rate * Proven rental performance with long-term tenants * Low Vacancy * Extensive recent capital improvements * Additional upside with new boiler installation (May 2026) * Prime downtown corner location * Close proximity to major employers This is an ideal opportunity for investors seeking a turnkey multifamily asset. Group Showing April 16th at 2pm. Please email to be added to the list. Do not show without contacting us.

Location

State NH

County Nh-coos

Area Nh-Coos

Zoning C-COMM

Rooms

Basement Entrance Walk-up

Basement Bulkhead, Concrete Floor, Dirt Floor, Full, No Tenant Access, Exterior Stairs, Interior Stairs, Unfinished, Exterior Access, Basement Stairs

Interior

Cooling None

Flooring Hardwood, Vinyl Plank

Exterior

Utilities Available Cable Available, Telephone Available

Roof Type Flat,Membrane

Building

Story 3

Sewer Public

Architectural Style Apartment Building

Construction Status Existing

PrimeMLS
Tim Cheney

"My passion is learning the "why?" behind making a real estate move so together we can define your goals then achieve the best possible outcome!"

+1(207) 200-3637

tim@timcheneyrealtor.com

875 Greenland Rd Suite B9, Portsmouth, NH, 03801-4161, USA

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4 Elm ST