494 Wilson St, Manchester, NH 03103
- $1,100,000
- 5,884
- SqFt
Listing courtesy of AJ Pappas from EXP Realty. (Cell: 978-270-5225)
- List Price
- $1,100,000
- Status
- ACTIVE
- MLS#
- 5106468
- Subtype
- Residential Income
- Style
- Apartment
- Year Built
- 1883
- Living Area
- 5,884
- Lot Size
- 2,614
- Acres
- 0.06
Property Description
Exceptional, 5-unit multifamily property located on Manchester’s desirable East Side. The strong unit mix consists of one 4-bedroom, two 3-bedroom, one 2-bedroom, and one 1-bedroom apartment. The current owner has significantly improved the property, which now features new vinyl plank flooring, updated wooden cabinets, fresh paint throughout, and new bathroom vanities complete with modern fixtures. Washer and dryer hookups are conveniently located in each individual unit, and there is ample street parking available in the immediate vicinity.The financial performance is outstanding when fully occupied, generating $10,300/month (approximately $123,600/year) in gross revenue. Tenants pay their own separate utilities, including heat, hot water, and electricity. Producing roughly $100,000/year in Net Operating Income (NOI), this asset represents a strong 9.0% cap rate, with even further rental upside potential for a new owner willing to continue renovations.
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Additional Information
- Taxes
- $11,425
- Property Description
- Apartment
- Zoning
- RES 4-8UNIT MDL-03
- Heating
- Natural Gas, Baseboard
- Air Conditioning
- None
- Levels
- Two and One Half
- Roof
- Membrane, Rolled Hot Mop
- Foundation
- Other
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