Porcupine Real Estate

256 Central St, Manchester, NH 03103

Multi-Family

$349,000
Price
$331,000
Sale Price

7
Total Units
Fully occupied property consists of 2 buildings 6 family unit & a detached commercial building (Barber Shop) at the corner of Beech & Central. Entrance to the commercial building is on Central. Gross Rents $56,340.00 Expenses $18,861.37 & I include an office, legal, and accounting fee in the expense. Rental income provides a nice ROI. The 6 fam consists of (4) 1 bedroom units & (2) 3 bedroom units. Over the years windows have been replaced & appliances upgraded. Roof is about 10 yrs old on the 6 unit & approx 5 on the commercial building. Newer vinyl siding was installed a couple of years ago on the 6 family. New electrical upgrade on the 6 family & all 7 tenants are individually metered. Landlord currently pays the electricity on Unit D. Unit D tenant has been there for over 8 years. Cost associated with landlord paying Unit D electricity is $922.42 deduct that from expenses & see how the ROI increases. Tenants pay all own electric except for D, Tenants pay for own heat except for B,D,E and the Salon. Multi Zone furnace. Salon pays own town water bill, tenants pay for own hot water except for D and E. Tenants handle the trash & plowing. COC expires in Aug 2019. I have no lease with the tenants. All current tenants have resided at the property for almost 2yrs. 4 tenants over 3 years. There exists some on site parking & off sight parking directly in front of buildings. Garage on site that D uses. 6 hot water heaters, 3 less than 3 yrs old. agent interest
Highlights
Property Type: Multi-Family
Price - Closed: 331,000
Total Units: 7
Foreclosed/Bank-Owned/REO: No
MLS #: 4617476
List Agent: Jack Murray
List Office: IKAN Property Advisors, LLC
Price - List: $349,000
Listing Status: Closed
Basement: Yes
Zoning: R-3
Year Built: 1910
Total 1 BR Units: 4
Total 3+ BR Units: 2
SqFt-Apx Total: 6,946
SqFt-Apx Total Finished: 4,745
Separate Utilities: Varies
Total Stories: 2
Seasonal: No
 
 
Interior
SqFt-Apx Unfn BG Source: Municipal
Basement Access Type: Interior
Total Rooms Above Ground: 23
Total Full Baths: 6
Total Heat Units: 3
SqFt-Apx Fin AG Source: Municipal
Total Ranges: 6
Total Refrigerators: 6
Total Water Heaters: 6
SqFt-Apx Unfn Below Grade: 2,201
SqFt-Apx Fin Above Grade: 4,745.00
Cooling: None
Electric: Circuit Breaker(s)
Water: Public
Exterior
Color: Light Gree
Garage: Yes
Easements: Unknown
Flood Zone: Unknown
Garage Type: Attached
Lot: 23
Total Gas Meters: 3
Total Electric Meters: 8
Garage Capacity: 1.00
Pre-Construction: No
Road Frontage: TBD
Construction Status: Existing
Construction: Wood Frame
Driveway: Paved
Garage Description: Leased
Lot Description: Corner
Sewer: Public
Taxes
Deed - Book: 7966
Deed - Page: 0021
Map: 92
Assessment Year: 2016
Assessment Amount: $331,500
Tax Rate: 23.14
Surveyed: Unknown
Taxes TBD: No
Tax - Gross Amount: 7,671.00
Expenses
Cable Company: M2M
Electric Company: Eversource
Expenses - Heat: 2,232
Expense - Utility: 1,353
Expenses - Insurance: 2,914
Gross Income: 56,340
Expenses - Maintenance: 2,023
Expenses - Taxes: 7,671
Net Income: 37,478.62
Expenses - Water: 2,376
Expenses - Miscellaneous: 291
Income Data Source: Owner Records
Additional
Covenants: Unknown
Features - Exterior: Porch - Covered
Units
Total Rooms Apx Sqft Baths Bedrooms Deposit Info Lease Term Level Number Rental Agremnt Rental Amount Rental Amt Freq Tenant Pays
Unit 1 3 1 1 Month to Month First No 615.00
Unit 2 3 1 1 first No 615.00
Unit 3 6 1 3 first No 700.00
Unit 4 3 1 1 Month to Month second No 650.00
Unit 5 3 1 1 Month to Month second No 600.00
Unit 6 6 1 3 Month to Month second No 715.00
Unit 7 2 884 1 0 Month to Month Ground No 800.00
Map
The listing office is IKAN Property Advisors, LLC and listing agent is Jack Murray. The data relating to real estate for sale on this web site comes in part from the IDX Program of NNEREN. Copyright(c) 2017 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable but not guaranteed. RLS2000.com, Inc. and its subscribers disclaim any and all respresentations or warranties as to the accuracy of this information. The data was last modified on 9/25/2017 10:24:00 AM.
 
Mark Warden
Mark Warden
Porcupine Real Estate