List Price: $3,199,000 | $284 per sq.ft. Multi Family
Price Change! Reduced by $150,000 down 5% on October 3rd 2024
A 16 Unit Multi Family Home
With 11 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units Listed Tuesday Sep 3, 2024 | MLS# 5012399


119 Hanover Street is a turnkey, mixed-use investment opportunity positioned on the corner of Hanover and Chestnut in the heart of Manchester's downtown. Sited within a block of major attractions such as the Hanover Street Chophouse, The Palace Theater, and several new multifamily developments, this location is second to none. This two-story brick building boasts 11 apartments (a mix of studio and 1-bedrooms), 5 retail units, and a leased billboard, all of which have seen significant renovations over the last two years. These upgrades include new electrical panels, updated unit plumbing, new high efficiency mini-splits, a new rubber roof, and a freshly painted façade. Additionally, each of the apartments have been painstakingly remodeled with high-end finishes including granite countertops, stainless-steel appliances, premium-LVP flooring, and in-unit air conditioning. The residents can also access the free high-speed wireless internet newly installed throughout the building, utilize the brand-new laundry room, and benefit from the high-resolution cameras providing interior and exterior coverage of the property. All of the commercial units are fully occupied on multi-year leases with a mix of retail and restaurant tenants. The billboard presents additional opportunity for value-add with an at-will operator that has been renting for almost three decades at a below market rate. Don't let this opportunity to own a turnkey building in Manchester's downtown pass you by!
Annual Expenses

Taxes: $17,850
Income
Construction: Steel Frame | Brick Exterior
Year Built: 1910
Style: Apartment Building
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 16803
Above Grade Sq.Ft.: 11248
Basement: Unfinished
Foundation: Fieldstone
Roof: Rolled
Seasonal: No
Heating: Natural Gas | Electric | Steam
Cooling: Mini Split
Electric: 200 Amp
Utilities: Gas - On-Site | Other
Electric Meters:
Water: Public
Sewer: Public
Land Information
City Lot | Corner
Lot size: 0.14 acres
Zoned: CBD)
Surveyed: Unk
Flood Zone: No
Roads: Public
Driveway: None


Easement - Unknown
Block - 00
Taxes $17,850
Assesed Value Not Reported
Schools

© 2000-2024 Clerkin Agency Real Estate
NEREN Logo
565 Maple Street, White River Junction, Vermont. 05001 802-295-1355
Copyright © 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated November 23rd, 2024

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