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Arcadia Hall 120 Emerald St 38 Unit Apartment Building For Sale Keene, NH 03431
Executive Summary
Northeast Private Client Group, Inc. is pleased to present Arcadia Apartments, a
38-apartment, 140-bed residential community at 120 Emerald Street in
downtown Keene, New Hampshire — a four-story brick building two blocks from
Central Square and within walking distance of the Keene State College campus,
the seat of Cheshire County and the commercial hub of the Monadnock Region.
Completed in 2012, Arcadia is laid out as three- and four-bedroom apartments,
all with two full baths. Two passenger elevators serve the four floors and the
building carries a full wet-sprinkler system. Gas and electric are separately
metered to every unit.
Current ownership operates the property as furnished by-the-bed rentals,
serving steady student and young-professional demand, and in-place rents sit
well below the marks already achieved on beds. There is a clear path to leasing
as traditional multifamily apartments serving a potentially broader tenant base
with significantly less overhead. The property offers a flexible value-add strategy
between these two paths, or possibly a hybrid approach.
Arcadia Apartments combines 2012 construction, a proven rent gap, and a
walkable downtown address anchored by the Monadnock Region’s largest
institutions, from Keene State College to Cheshire Medical Center. Please reach
out to the deal contacts for more information.
38-apartment, 140-bed residential community at 120 Emerald Street in
downtown Keene, New Hampshire — a four-story brick building two blocks from
Central Square and within walking distance of the Keene State College campus,
the seat of Cheshire County and the commercial hub of the Monadnock Region.
Completed in 2012, Arcadia is laid out as three- and four-bedroom apartments,
all with two full baths. Two passenger elevators serve the four floors and the
building carries a full wet-sprinkler system. Gas and electric are separately
metered to every unit.
Current ownership operates the property as furnished by-the-bed rentals,
serving steady student and young-professional demand, and in-place rents sit
well below the marks already achieved on beds. There is a clear path to leasing
as traditional multifamily apartments serving a potentially broader tenant base
with significantly less overhead. The property offers a flexible value-add strategy
between these two paths, or possibly a hybrid approach.
Arcadia Apartments combines 2012 construction, a proven rent gap, and a
walkable downtown address anchored by the Monadnock Region’s largest
institutions, from Keene State College to Cheshire Medical Center. Please reach
out to the deal contacts for more information.
Property Facts
| Sale Type | Investment | Building Size | 45,686 SF |
| No. Units | 38 | Average Occupancy | 39% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2012 |
| Apartment Style | Mid-Rise | Parking Ratio | 3.83/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 0.90 AC | ||
| Zoning | C | ||
| Sale Type | Investment |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.90 AC |
| Building Size | 45,686 SF |
| Average Occupancy | 39% |
| No. Stories | 4 |
| Year Built | 2012 |
| Parking Ratio | 3.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Kitchen
- Refrigerator
- Oven
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Laundry Facilities
- Furnished Units Available
- Gameroom
- Grill
- Community-Wide WiFi
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 10 | - | 1,140 |
| 4+2 | 28 | - | 1,140 |
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Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 584/ / 070/000 000/000 | Improvements Assessment | $4,283,200 |
| Land Assessment | $634,200 | Total Assessment | $4,917,400 |
Property Taxes
Parcel Number
584/ / 070/000 000/000
Land Assessment
$634,200
Improvements Assessment
$4,283,200
Total Assessment
$4,917,400
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