Listing by: Nick Gray, Gray Property Group, LLC, 603-637-4812
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0 Beds
n/a Full bath
7,223 SqFt
Active
Well-maintained 11-unit multifamily property consisting of a 9-unit apartment building adjacent to a 2-unit duplex, totaling seven 2-bedroom apartments and four 1-bedroom apartments. This property has been significantly improved by the current owner and most units include vinyl plank flooring, fresh paint, and stainless steel appliances. Income is terrific with an average rent of $1,757/unit/month and ~$237K/year in total gross revenue, and further upside income potential exists for a new owner willing to renovate. The Landlord pays for heat, hot water, and cold water / sewer, and the tenants pay for electricity. The property’s ~$162K/year in NOI makes this listing a 8.6% cap at the asking price. The buildings’ shared parking lot accommodates 12-14 vehicles and additional street parking is available in the immediate vicinity. The property is only a couple minute walk to Farmington's downtown and is a commutable distance to Portsmouth (25 miles), Concord (33 miles), and Manchester (43 miles). Owner is a real estate licensee.
Property Details | ||
---|---|---|
Price | $1,875,000 | |
Property Style | Multi-Family | |
Lot Size Area | 11326 | |
Acres | 0.26 | |
Property Type | MultiFamily | |
Stories | 3 | |
Year Built | 1900 | |
Roof | Metal | |
Heating | Oil,House Unit | |
Foundation | Brick,Fieldstone | |
Lot Description | City Lot | |
Geographic Data | ||
County | NH-Strafford | |
Latitude | 43.391296000001 | |
Longitude | -71.063916 | |
Market Area | NH-Strafford | |
Address Information | ||
Address | 9-11 Worster Street, Farmington, NH 03835 | |
Postal Code | 03835 | |
City | Farmington | |
State | NH | |
Country | United States | |
Listing Information | ||
Listing Office | Gray Property Group, LLC | |
Listing Office Phone | 603-637-4812 | |
Listing Office Email | ngray@graypropertygroup.com | |
Listing Agent | Nick Gray | |
Listing Agent Phone | 603-637-4812 | |
MLS® Information | ||
Days on market | 87 | |
MLS® Status | Active | |
Listing Date | Nov 25, 2024 | |
Listing Last Modified | Feb 14, 2025 | |
MLS® Area | NH-Strafford | |
MLS® # | 5023203 |
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This information is believed to be accurate, but without any warranty.