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Signature on Elm 1211-1217 Elm St 43 Unit Apartment Building $10,200,000 ($237,209/Unit) 6.27% Cap Rate Manchester, NH 03101



INVESTMENT HIGHLIGHTS
- Downtown Location & Access to Amenities
- Housing Demand
- Recent Capital Improvements
- Attractive Unit Mix
- Scheduled Rent Increases
- Value-Add Potential
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase Signature on Elm, a mixed-use investment property located at 1217 Elm Street in Manchester, New Hampshire (the “Property”). The Property is a three-story building that contains a total of forty-three (43) units. The Property consists of eight (8) commercial suites and thirty-five (35) residential units comprised of seventeen (17), 2-Bedroom/1-Bathroom units, thirteen (13), 1-Bedroom/1-Bathroom units, and five (5) Studio units with 40,690 square feet of living/rentable area in 56,476 gross square feet on a 0.491-acre parcel. Signature on Elm has undergone a gut renovation, which includes high-quality finishes, in-unit laundry, and additions of an elevator and mailroom. The redevelopment of the property has added a high end, modern look. The Property also features a low-maintenance brick exterior and twenty-two (22) on-site parking spaces. Centrally located in the heart of Manchester, Signature on Elm is adjacent to the intersection of Bridge Street and Elm Street (US Route 3), two of the area’s primary commercial and commuter corridors. The Property enjoys convenient access to Pulaski Park, SNHU Arena, Gill Stadium, Sheehan- Basquil Park, and is within walking distance of many of the retail amenities in Downtown Manchester. Signature on Elm is situated in an urban location in Manchester, seconds from US Route 3, which connects to Interstates 93 and 293. The area offers countless amenities, with ample dining, retail, and nightlife options.
PROPERTY FACTS
| Price | $10,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,209 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 6.27% | Building Size | 56,476 SF |
| No. Units | 43 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1946/2023 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $10,200,000 |
| Price Per Unit | $237,209 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.49 AC |
| Building Size | 56,476 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1946/2023 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | - | - |
| 2+2 | 14 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
PROPERTY TAXES
| Parcel Number | MNCH-000041-000000-000007 | Improvements Assessment | $1,902,900 |
| Land Assessment | $296,100 | Total Assessment | $2,199,000 |
PROPERTY TAXES
Parcel Number
MNCH-000041-000000-000007
Land Assessment
$296,100
Improvements Assessment
$1,902,900
Total Assessment
$2,199,000
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Signature on Elm | 1211-1217 Elm St
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