List Price: $2,995,000 | $1,215 per sq.ft. Multi Family
Price Change! Reduced by $504,000 down 17% on September 11th 2024
A 3 Unit Multi Family Home
With 3 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units Under Contract Listed Wednesday Aug 28, 2024 | MLS# 5011661


Being sold with 423 Court St (mls 5011667). Take this opportunity to invest in 2 multifamily buildings in one of Portsmouth's best locations. These strategically positioned properties offer compelling investment prospects, with strong rental histories and potential for growth. *Atkinson St Building*: This well-maintained property features three one-bedroom units, each with a solid rental track record, offering immediate income potential. *Court St Building*: This property includes six units, with two currently vacant, presenting a prime opportunity for value enhancement. A coin-operated laundry serves both buildings, adding convenience and value for tenants. Both buildings share four parking spots, currently assigned to existing tenants based on seniority, with future flexibility for reallocation. Investing in Portsmouth means capitalizing on a thriving real estate market that combines immediate rental income with significant potential for future appreciation. The city's strong rental demand, driven by its appealing lifestyle and prime location, ensures that these properties are well-positioned for continued success. Enhancing the vacant units and adjusting rental rates offers an opportunity to maximize returns and further capitalize on Portsmouth's growth. Don't miss out on this prime investment opportunity in Portsmouth's dynamic real estate market. Schedule a showing and discover how these multifamily buildings can become valuable assets in your investment portfolio.
Location : In Town | Near Shopping | Neighborhood
Operating Expenses : Maintenance,Professional Management,Other,Utilities
Annual Expenses

Taxes: $13,625
Income
Gross Income | $51,250
NetIncome | $1,570
Appliances : Water Heater – Off Boiler

UNIT 1

Beds: 1
Baths: 1
Rooms: 3
Level: 1
Info : Disposal,Range - Electric,Refrigerator
Tenant Pays : Electric,Internet Service
Rent : 1400.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased

UNIT 2

Beds: 1
Baths: 1
Rooms: 3
Level: 2
Info : Disposal,Range - Electric,Refrigerator
Tenant Pays : Electric,Internet Service
Rent : 1300.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased

UNIT 3

Beds: 1
Baths: 1
Rooms: 3
Level: 3
Info : Disposal,Range - Electric,Refrigerator
Tenant Pays : Electric,Internet Service
Rent : 1800.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
Construction: Other | Brick Exterior | Other Exterior
Year Built: 1811
Style: Antique | Apartment Building
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 3078
Above Grade Sq.Ft.: 2466
Basement: Unfinished
Foundation: Other | Stone
Exterior Color: Brick
Roof: Flat | Other
Garage And Parking: Driveway | Parking Spaces 4
Seasonal: No
Heating: Hot Water
Cooling: None
HeatFuel: Gas - Natural
Electric: Circuit Breaker(s)
Utilities: Other
Gas_Meters: 0
Water: Public
Sewer: Public
Land Information
City Lot
Lot size: 0.04 acres
Zoned: CD4-L1)
Surveyed: Unk
Flood Zone: No
Roads: Public
Driveway: Other


Block - 0
Taxes $13,625
Assesed Value Not Reported
Schools
School District: Portsmouth
Elementary School: Little Harbor School
Middle School: Portsmouth Middle School
High School: Portsmouth High School

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