Price Reduced 5.31%

$1,230,000 ($230.42 per sqft)

Est. Mortgage $6,220/mo *

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Listing courtesy of Nick Gray, Gray Property Group, LLC Phone: 603-637-4812

Price History

$1,299,000
11/8/2024

$1,230,000
12/7/2024

261 Union Avenue, Laconia, NH, 03264

261 Union Avenue, Laconia, NH, 03264
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8 beds

1885

Apartment Building

5,338 sqft

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. The seller will deliver the property fully occupied and rents are terrific with a median residential rent of $1,500/unit/month and commercial rent of $1,500/month. In total, the property generates ~$161K in gross revenue and ~$112K per year in NOI, corresponding to a 9.0% 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.

Status:

Active

Type:

Multi-family

Units:

9

Zoning:

UC

Heating:

Natural Gas, Gravity, Hot Water

Cooling:

None

Basement:

Concrete Floor, Dirt Floor

Acreage:

0.08

Lot Description:

Level

MLS #:

5021561

Community Info

School Info

Walk Score

Mass Transit

Yelp

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