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187,355-357,489 Merrimack, & Pine Street, Manchester, NH, 03104 | $3,049,900
An outstanding opportunity to invest in 3 multifamily properties in Manchester, NH. This portfolio includes 19 units with a 7%+ CAP return, located at 489 Pine Street, 187 Merrimack St, and 355-357 Merrimack St, Total portfolio gross monthly rents are $25, 860, totaling a gross annual income of $311, 520. Unit mix = (1) three-bedroom unit, eight (8) two-bedroom units, three (3) one-bedroom units, and seven (7) studio-style units. 489 Pine Street has 8 units, one (1) unit with 2 bedrooms & 1 bathroom, and seven (7) studio units with 1 bathroom each. Monthly gross returns total $10, 210. 187 Merrimack St has six (6) units, two (2) - 1 bedroom and 1 bathroom units, and four (4) - 2 bedrooms, 1 bathroom units ranging between 500-1175 Sq ft. Monthly gross returns total $9800. 355-357 Merrimack St has five (5) total units across two (2) buildings/structures on one parcel. 355 is a single-family home detached that offers 3 bedrooms, and 1 bath across 1220 Sq Ft. Monthly gross returns total $7600. 357 Merrimack St, is a four (4) unit structure that has three (3)- 2 bedroom, 1 bath units, and one (1)- one bedroom, one bathroom unit. Take advantage of this opportunity to acquire a substantial multifamily portfolio in Manchester, NH all within 0. 5 miles of each other including a unique unit mix. its individual property listing at 489 Pine St MLS#5022062, 187 Merrimack St MLS#5022061, 355-357 Merrimack St MLS#5022063. This property must be sold as a 19-unit portfolio.
Features
- Baths: 20 full
- Units: 19
- Style: Apartment Building,Detached,Multi-Family,Other,w/Addition
- Year Built: 1920
- Garage: 1-car Garage
- Heating: Propane,Natural Gas,Oil,Hot Air,Hot Water,Space Heater
- Cooling: None
- Basement: Bulkhead,Concrete,Concrete Floor,Dirt,Dirt Floor,Full,Insulated,Other,Stairs - Exterior,Stairs - Interior,Storage - Assigned,Storage - Locked,Storage Space,Unfinished,Interior Access,Exterior Access,Stairs - Basement
- Approx Sq. Feet: 12,271
- Acreage: 0.4
- Est. Taxes: $27,755
- Lot Desc: Level
- MLS#: 5022060
- Website: https://www.raveis.com
/prop/5022060/187_355357_489merrimack_andpinestreet_manchester_nh?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. 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 11/21/2024Listing courtesy of The Aland Realty Group Phone: 603-501-0463
Listing Agent: Mike Giannone
William Raveis Family of Services
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187,355-357,489 Merrimack, & Pine Street, Manchester, NH, 03104
$3,049,900
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $2,439,920 | $2,439,920 | $2,439,920 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
| Monthly Tax Payment | $2,313 | $2,313 | $2,313 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $13,663 | $14,825 | $20,098 |
| Total Monthly Payment | $16,101 | $17,263 | $22,536 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NH Mortgage Banker #11083-MB