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492 Wilson St
Manchester, NH 03103
Wilson Building · Multifamily Property For Sale
·
5 Units
Investment Highlights
- Value Add opportunity
- Strong Multi Family Investment Potential
- Great Location
Executive Summary
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 inNet 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.
Property Facts
| Price Per Unit | $220,000 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 8,060 SF |
| No. Units | 5 | Average Occupancy | 80% |
| Property Type | No. Stories | 3 | |
| Apartment Style | Mid-Rise | Year Built | 1883 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | |
| Apartment Style | Mid-Rise |
| Lot Size | 0.07 AC |
| Building Size | 8,060 SF |
| Average Occupancy | 80% |
| No. Stories | 3 |
| Year Built | 1883 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 3 | $2,700 | - |
| 3+1 | 4 | $2,100 | - |
| 2+1 | 2 | $2,000 | - |
| 3+1 | 1 | $1,700 | - |
| 2+1 | 1 | $1,550 | - |
Property Taxes
| Parcel Number | MNCH-000052-000000-000019 | Improvements Assessment | $399,700 |
| Land Assessment | $89,100 | Total Assessment | $488,800 |
Property Taxes
Parcel Number
MNCH-000052-000000-000019
Land Assessment
$89,100
Improvements Assessment
$399,700
Total Assessment
$488,800
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