$1,130,000 ($211.69 per sqft)

Est. Mortgage $5,493/mo *

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Listing courtesy of Nick Gray, Gray Property Group, LLC 603-637-4812

261 Union Avenue, Laconia, NH, 03264

261 Union Avenue, Laconia, NH, 03264
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8 beds

1885

Apartment Building

5,338 sqft

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.

Status:

Active

Type:

Multi-family

Units:

9

Zoning:

UC

Heating:

Natural Gas, Gravity, Hot Water

Cooling:

None

Basement:

Concrete Floor, Dirt Floor

Acreage:

0.08

Lot Description:

Level

MLS #:

5092356

Community Info

School Info

Walk Score

Mass Transit

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