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Main Street Apartments 90 Main St 41 Unit Apartment Building $5,600,000 ($136,585/Unit) 6.99% Cap Rate Allenstown, NH 03275
Investment Highlights
- 41-Unit Multifamily Property | Studio Apartments
- All Units Updated in Last Four Years
- Stabilized Rent Roll
- Outdoor Storage Units | Private Parking Lot
- On-Site Coin-Op Laundry Facility
Executive Summary
Northeast Private Client Group is pleased to present the Main Street Apartments located at 90 Main Street in Allenstown, New Hampshire.
Formerly a hotel, the property now consists of 41 studio apartments with 24 self-storage units and a private parking lot. Tenants enjoy landlord paid utilities and an on-site coin-op laundry facility. Over the last five years there have been significant unit, exterior, and mechanical upgrades.
A new owner has the opportunity to acquire a turnkey, brick-faced building with stabilized apartment rents and upside from storage and laundry. All qualified and interested parties will have the opportunity to receive more detailed information and tour the property during scheduled showings.
Formerly a hotel, the property now consists of 41 studio apartments with 24 self-storage units and a private parking lot. Tenants enjoy landlord paid utilities and an on-site coin-op laundry facility. Over the last five years there have been significant unit, exterior, and mechanical upgrades.
A new owner has the opportunity to acquire a turnkey, brick-faced building with stabilized apartment rents and upside from storage and laundry. All qualified and interested parties will have the opportunity to receive more detailed information and tour the property during scheduled showings.
Data Room Click Here to Access
Property Facts
| Price | $5,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $136,585 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.17 AC |
| Cap Rate | 6.99% | Building Size | 16,250 SF |
| No. Units | 41 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1890 |
| Zoning | Residential | ||
| Price | $5,600,000 |
| Price Per Unit | $136,585 |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.17 AC |
| Building Size | 16,250 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1890 |
| Zoning | Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 41 | - | 434 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | ALLE-000111-000000-000037 | Improvements Assessment | $2,719,000 |
| Land Assessment | $1,119,000 | Total Assessment | $3,838,000 |
Property Taxes
Parcel Number
ALLE-000111-000000-000037
Land Assessment
$1,119,000
Improvements Assessment
$2,719,000
Total Assessment
$3,838,000
Contacts
-
James Casey -
Francis Saenz -
Drew Kirkland -
Anthony Rakauskas -
Northeast Private Client Group
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Main Street Apartments | 90 Main St
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