List Price: $1,230,000 | $230 per sq.ft. Multi Family A 9 Unit Multi Family Home
With 8 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units
Listed Friday Nov 8, 2024 | MLS# 5021561
With 8 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units
Listed Friday Nov 8, 2024 | MLS# 5021561
261 Union Avenue Laconia NH
Listed by Nick Gray Gray Property Group, LLC
Listed by Nick Gray Gray Property Group, LLC
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. The seller will deliver the property fully occupied and rents are terrific with a median residential rent of $1,500/unit/month and commercial rent of $1,500/month. In total, the property generates ~$161K in gross revenue and ~$112K per year in NOI, corresponding to a 9.0% 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.
Annual Expenses
Taxes: $0
Taxes: $0
Income
Gross Income | $161,400
NetIncome | $112,574
Gross Income | $161,400
NetIncome | $112,574
UNIT 1
Beds: 1
Baths: 1
Rooms: 0
Level: Unit 0
Rent : 1500.00 Monthly
Lease Term : Annual
Status : Leased
UNIT 2
Beds: 1
Baths: 1
Rooms: 0
Level: Unit 1
Rent : 1560.00 Monthly
Lease Term : Month to Month
Status : Month to Month
UNIT 3
Beds: 1
Baths: 1
Level: Unit 2
Rent : 1300.00 Monthly
Lease Term : Month to Month
Status : Month to M
UNIT 4
Beds: 1
Baths: 1
Level: Unit 3
Rent : 1560.00 Monthly
Lease Term : Annual
Status : Leased
UNIT 5
Beds: 1
Baths: 1
Rooms: 0
Level: Unit 4
Rent : 1530.00 Monthly
Lease Term : Annual
UNIT 6
Beds: 1
Baths: 1
Level: Unit 5
Rent : 1500.00 Monthly
Lease Term : Annual
Status : Leased
UNIT 7
Beds: 1
Baths: 1
Rooms: 0
Level: Unit 6
Rent : 1500.00 Monthly
Status : Month to Month
UNIT 8
Beds: 1
Baths: 1
Rooms: 0
Level: Unit 7
Rent : 1500 Monthly
Lease Term : Month to Month
Status : Month to Month
Construction: Wood Frame | Vinyl Siding
Year Built: 1885
Style: Apartment Building
Floors | Stories: 2.5
No. Elevators:
Total Sq.Ft. Finished: 6550
Above Grade Sq.Ft.: 5338
Basement: Concrete Floor | Dirt Floor
Foundation: Brick | Granite | Stone
Year Built: 1885
Style: Apartment Building
Floors | Stories: 2.5
No. Elevators:
Total Sq.Ft. Finished: 6550
Above Grade Sq.Ft.: 5338
Basement: Concrete Floor | Dirt Floor
Foundation: Brick | Granite | Stone
Exterior Color: Blue
Roof: Shingle - Asphalt
Seasonal: No
Roof: Shingle - Asphalt
Seasonal: No
Heating: Natural Gas | Gravity | Hot Water
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Level
Lot size: 0.08 acres
Zoned: UC)
Surveyed: No
Flood Zone: Yes
Driveway: Paved
Level
Lot size: 0.08 acres
Zoned: UC)
Surveyed: No
Flood Zone: Yes
Driveway: Paved
Block - 220
Taxes $0
Assesed Value Not Reported
Schools
PLEASE NOTE: Both New Hampshire and Vermont law require brokers and agents to disclose at the “time of first business meeting, prior to any discussion
of confidential information”, in New Hampshire’s case, and “first reasonable opportunity”, in Vermont’s case, the
nature of the relationships brokers have or may have with customers and clients. Each state requires that a disclosure form be presented to
consumers for their review and acknowledgment at the appropriate time. These forms can be accessed here:
VT: VERMONT REAL ESTATE COMMISSION MANDATORY CONSUMER DISCLOSURE FORM
NH: NEW HAMPSHIRE REAL ESTATE COMMISSION BROKERAGE RELATIONSHIP DISCLOSURE FORM