Price Reduced 6.02%

$1,875,000 ($259.59 per sqft)

Est. Mortgage $9,605/mo *

Quick Pre-Approval

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


Price History

$1,995,000
11/25/2024

$1,875,000
12/7/2024


9-11 Worster Street, Farmington, NH, 03835

9-11 Worster Street, Farmington, NH, 03835

0 beds

1900

Multi-Family

7,223 sqft

Well-maintained 11-unit multifamily property consisting of a 10-unit apartment building adjacent to a single family house, totaling seven 2-bedroom apartments and four 1-bedroom apartments. This property has been significantly improved by the current owner and most units include vinyl plank flooring, fresh paint, and stainless steel appliances. Income is terrific with an average rent of $1,757/unit/month and ~$237K/year in total gross revenue, and further upside income potential exists for a new owner willing to renovate. The Landlord pays for heat, hot water, and cold water / sewer, and the tenants pay for electricity. The property’s ~$162K/year in NOI makes this listing a 8.6% cap at the asking price. The buildings’ shared parking lot accommodates 12-14 vehicles and additional street parking is available in the immediate vicinity. The property is only a couple minute walk to Farmington's downtown and is a commutable distance to Portsmouth (25 miles), Concord (33 miles), and Manchester (43 miles). Owner is a real estate licensee.


Status:

Active

Type:

Multi-family

Units:

11

Zoning:

UR

Heating:

Oil, House Unit

Cooling:

None

Basement:

Dirt, Dirt Floor

Acreage:

0.26

Lot Description:

City Lot

MLS #:

5023203


Community Info

School Info

Walk Score

Mass Transit

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