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Listed by Matthew Lefebvre • Downtown Realty
$850,000
Est. payment /mo
5 Beds
6 Baths
3,348 SqFt
New
406 Belmont ST Manchester, NH 03103
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,348 sqft
Price per Sqft $253
MLS Listing ID 5110849
Bedrooms 5
Full Baths 6
Construction Status Existing
Year Built 1920
Annual Tax Amount $8,559
Tax Year 2025
Lot Size 4,356 Sqft
Acres 0.1
Property Description
This six-unit multifamily asset in Manchester, NH offers a fully occupied, low-maintenance investment in a strong urban submarket. This city lot has limited landscaping maintenance and features one paved, off-street parking space per unit behind the building. The five 1-bedroom units have been renovated by the current ownership and have a mix of refinished hardwood and vinyl plank flooring throughout along with new kitchens, appliances, and fixtures. The sole studio unit remains unrenovated but is kept in excellent condition by a long-term resident. Landlord pays for heat, hot water, and water/sewer, while tenants are responsible for their own electric. Other major upgrades during the current ownership include, a full vinyl siding wrap, replacement of natural gas water heater, replacement of front decks, and the upgrade of electrical service and panels to individual 100-amp circuit breakers. Rents are slightly below-market throughout the property with a current gross annual rent projected at $100,800 and a proforma potential of $108,000 as rents are adjusted toward market levels. With all six units fully occupied and rents already near market, this offering presents a stable, turnkey opportunity for an investor seeking a low-management asset with modest, steady upside.
Location
State NH
County Nh-hillsborough
Area Nh-Hillsborough
Zoning MX-2
Rooms
Basement Entrance Walk-up
Basement Unfinished
Interior
Cooling None
Flooring Hardwood, Tile, Vinyl Plank
Exterior
Utilities Available Other
Waterfront Description No
View Y/N No
View No
Roof Type Membrane
Building
Story 3
Sewer Public
Architectural Style Apartment Building, Multi-Family
Construction Status Existing
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