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.
Listing courtesy of Nick Gray at Gray Property Group, LLCProperty Details
Price:
$1,230,000
MLS #:
5021561
Status:
Active
Baths:
0
Address:
261 Union Avenue
Type:
Multi Family
City:
Laconia
Listed Date:
Nov 8, 2024
State:
NH
Finished Sq Ft:
5,338
ZIP:
03264
Lot Size:
3,485 sqft / 0.08 acres (approx)
See this Listing
As part of a leading real estate brokerage, I take pride in providing exceptional fiduciary service to all my clients and educating my customers of the up-to-date current market trends and conditions. At the heart of my client’s success is my network of administrators, seasoned and dedicated agents and brokers. With years of experience in the local real estate market, Scott Buitta brings a wealth of knowledge and expertise to the table. Whether you are buying, selling, or investing in property, …
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Schools
Interior
Basement Description
Concrete Floor, Dirt Floor
Cooling
None
Electric
100 Amp
Heating
Natural Gas, Gravity, Hot Water
Exterior
Driveway
Paved
Foundation
Brick, Granite, Stone
Roof
Shingle – Asphalt
Sewer
Public
Utilities
Cable
Financial
Map
Community
- Address261 Union Avenue Laconia NH
- CityLaconia
- Zip Code03264
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261 Union Avenue
Laconia, NH
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