1034 Lancaster Road

    Lancaster, NH 03584
    • $725,000
    • STATUS: Active
    • MLS #: 4767627
    UPDATED: 19 min ago
    $725,000
    • 0
      BEDS
    • 1.1
      ACRES
    • 18
      BATHS
    • 0
      1/2 BATHS
    • 7,090
      SQFT
    • $102
      $/SQFT
    Type:
    Multi-Family
    Built:
    1960
    County:
    Area:

    School Ratings & Info

    Courtesy of Matthew Lefebvre of Elm Grove Realty.

    Description

    The Pine Tree Apartments is a turnkey apartment complex located on Route 3 in Northumberland. Converted from a motel built in 1960, this 18 unit apartment complex has had almost all of the units fully remodeled, rents increased, and building stabilized over the last few years. Many of systems have been updated including installation of new hot water heaters, heating systems, electrical, sewer lines, and plumbing lines. Because of many of the capital improvements made, operating expenses are very low for this property; less than $15,000 annually for all utility costs. Eight units are on separate utilities and ten units have all utilities included in their rent. With gross rents of over $124,000 and very low operating expenses, this property has a very strong rate of return and is a turnkey investment for anyone looking to own a large apartment building for an affordable price.

    Monthly Payment Calculator



    © Copyright 2020 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-01-23T16:05:57.44.
    www.teamtringali.com/homes/97381462

    1034 Lancaster Road Lancaster, NH 03584

    • Price: $725,000
    • Status: Active
    • Updated: 19 min ago
    • MLS #: 4767627
    0
    Beds
    18
    Baths
    0
    ½ Baths
    1.1
    Acres
    7,090
    SQFT
    $102
    $/SQFT
    1960
    Built
    County:
    Coos
    Area:
    Lancaster
    Property Description
    The Pine Tree Apartments is a turnkey apartment complex located on Route 3 in Northumberland. Converted from a motel built in 1960, this 18 unit apartment complex has had almost all of the units fully remodeled, rents increased, and building stabilized over the last few years. Many of systems have been updated including installation of new hot water heaters, heating systems, electrical, sewer lines, and plumbing lines. Because of many of the capital improvements made, operating expenses are very low for this property; less than $15,000 annually for all utility costs. Eight units are on separate utilities and ten units have all utilities included in their rent. With gross rents of over $124,000 and very low operating expenses, this property has a very strong rate of return and is a turnkey investment for anyone looking to own a large apartment building for an affordable price.
    Exterior Features

    Construction Wood Frame Driveway Paved Exterior Brick VeneerVinyl Siding Garage Type2 Carport Has Garage Yes Lot Description Country SettingMajor Road Frontage Parking Off StreetOn-SiteParking Spaces 21+Parking Spaces 6+Paved Road Frontage Tbd Roads PavedPublic Roof Shingle - Asphalt Style Apartment BuildingConversion

    Interior Features

    Basement Access Type Walkout Basement Description Unfinished Cooling Mini Split Foundation Concrete Has Basement Yes Heating Gas HeaterMini Split Total Heated Units 18 Total Ranges 18 Total Refrigerators 18 Total Water Heaters 9 Water Heater Gas - Lp/Bottle

    Property Features

    Auction No Construction Status Existing Easements Unknown Electric Circuit Breaker(S) Flood Zone Unknown Gross Income 124500 Heat Fuel Gas - Lp/Bottle Planned Urban Developmt No Possession At Closing Pre Construction No Seasonal Unknown Separate Utilities Varies Sewer 1500+ GallonLeach FieldPrivateSeptic Tax Gross Amount 5052 Tax Year 2018 Taxes Tbd Unknown Total Electric Meters 9 Total Gas Meters 9 Total1 Bed Units 18 Total2 Bed Units 0 Total3 Plus Bed Units 0 Utilities CableGas - Lp/BottleInternet - CablePhone Water Public Zoning Resi

    Courtesy of Matthew Lefebvre of Elm Grove Realty.


    © Copyright 2020 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-01-23T16:05:57.44.
     
    Team Tringali | Keller Williams Metropolitan
    50 Nashua Rd, Suite 111
    Londonderry NH, 03053
    Courtesy of Matthew Lefebvre of Elm Grove Realty.