261 Union AvenueLaconia, NH 03264

Description

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. All 8 apartments are occupied and rents are terrific with an average residential rent of $1,432/unit/month, and opportunity exists for the next owner to add revenue by leasing the commercial space. In total, the property generates ~$155K in pro forma gross revenue and ~$105K per year in NOI, corresponding to a 9.3% 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.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Style

Apartment Building

Year built

1885

Stories

2

Living area

5,338 Sq Ft

Lot size

0.08 acres

Zoning

UC

Days on market

136

MLS^® Listing#

5092356

Property Features

Cooling

None

Heating

Gravity · Hot Water · Natural Gas

Basement

Concrete · Dirt Floor · Walk-Out Access

Parking

Paved

Lot features

Level

Construction

Vinyl Siding

Foundation

Brick/Mortar · Stone

Roof

Shingle

Utilities

Cable Available

Sewer

Public Sewer

Water source

Public