261 Union AVE, Laconia, NH 03264
261 Union AVE, Laconia, NH 03264
261 Union AVE, Laconia, NH 03264
261 Union AVE, Laconia, NH 03264
261 Union AVE, Laconia, NH 03264
261 Union AVE, Laconia, NH 03264
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Tim Cheney

Tim Cheney

+1(207) 200-3637
Listed by Nick Gray • Gray Property Group, LLC
$ 1,130,000
Est. payment | /mo

8 Beds

8 Baths

5,338 SqFt

Save
$ 1,130,000
Est. payment | /mo
Save

8 Beds

8 Baths

5,338 SqFt

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

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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261 Union AVE