261 Union Ave, Laconia, NH 03264

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Listed byGray Property Group, LLC
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Overview

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.

Location

Full feature list

Basic info

Property type
Other residential
Number of stories
2.5
Lot size (acres)
0.08
Year built
1885

Interior features

Basement
Yes

Utilities

Heating
Gravity, Hot Water, Natural Gas
Cooling
None

Public schools

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Sourced from: PrimeMLS MLS®#: 5092356 Last checked:

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