261 Union Ave, Laconia, NH 03264
- $1,130,000
- 5,338
- SqFt
Listing courtesy of Nick Gray from Gray Property Group, LLC. ()
- List Price
- $1,130,000
- Status
- ACTIVE
- MLS#
- 5092356
- Living Area
- 5,338
- Lot Size
- 3,485
- Acres
- 0.08
- Year Built
- 1885
Property Description
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. All 8 apartments are occupied and rents are terrific with an average residential rent of $1,432/unit/month, and opportunity exists for the next owner to add revenue by leasing the commercial space. In total, the property generates ~$155K in pro forma gross revenue and ~$105K per year in NOI, corresponding to a 9.3% 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.
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Additional Information
- Listing Agent
- Nick Gray
- Listing Office
- Gray Property Group, LLC
- Style
- Apartment
- Electric
- Service - 0 to 100 Amps
- Utilities
- Cable Available
- Basement
- Concrete, Dirt Floor
- Foundation
- Brick/Mortar, Granite, Stone
- Sewer
- Public Sewer
- Roof
- Asphalt
- Zoning
- UC
- Water
- Public
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