Description
An excellent opportunity to acquire a 10-unit multifamily portfolio in Whitefield, New Hampshire, consisting of an 8-unit multifamily property and an adjacent duplex. Significant capital improvements and renovations have already been completed, while meaningful value-add potential remains for the next owner. Property Highlights10 total units across two adjacent lots: 8-unit multifamily property & Adjacent 2-unit duplex7 of the 8 units have been renovated1 unit is ready for renovation, providing an opportunity to implement the new owner's vision9 out of 10 units are currently occupiedCurrent in-place rents: $10,325/monthPro-forma rents: $13,100/monthApproximately $2,775/month of additional rental upsideBasement of the 8-unit has been completely rebuilt, including: New main carrying beam, structural supports and floor joistsNew water heatersNew oil tank in 8 UnitRecent exterior improvements include a new roof and vinyl siding Substantial renovation work has already been completed, reducing the amount of heavy lifting required to capture additional upside Value-Add OpportunityThe property offers an attractive combination of existing cash flow, completed improvements, and remaining upside. With seven of the eight units renovated in the 8 unit and significant structural and exterior improvements already completed, an investor can focus on lease-up, renovation of the remaining unit, and continued rent optimization. The property is being offered below the in-hand appraisal value for the completed project, creating the potential for immediate value and additional upside through execution of the remaining improvements.
Details
| MLS # | 5109363 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | (10) Active - Active |
| Year | 1860 |
| Days On Site | 17 |
| Listing Provided By | Rune Stone Realty | Nicole J Canavan |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 10 |
| Zoning | Village |
| Acreage | 0.21 |
Interior
| Rooms Total | 0 |
|---|---|
| Cooling | None |
| Heating | Propane, Oil, Electric |
Exterior
| Roof | Metal, Asphalt Shingle |
|---|---|
| Construction Materials | Wood Frame, Vinyl Siding |
| Foundation Details | Concrete Slab, Stone |
| Lot Features | Landscaped, Level, In Town |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Off Street, On Site, Parking Spaces 1 - 10 |
Utilities
| Utilities | Cable Available, Phone Available |
|---|---|
| Electric | Circuit Breakers |
| Sewer | Public |
Taxes
| Tax Annual Amount | 7949.08 |
|---|---|
| Tax Assessed Value | 484700 |
| Tax Block | 0 |
| Tax Lot | 131&132 |
| Tax Year | 2024 |
Area Information
| State | NH |
|---|---|
| County | Coos |
| City | Whitefield |
| Zip Code | 03598 |
| Area | NH Coos |
| Listing VS Median (in 03598) | |
Price: $892,500 low | high Med: $0 On site: 17 low | high Med: | |
Market Activity 03598
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Learn More About This Property
| State | NH |
|---|---|
| County | Coos |
| City | Whitefield |
| Zip Code | 03598 |
| Area | NH Coos |
| Listing VS Median (in 03598) | |
Price: $892,500 low | high Med: $0 On site: 17 low | high Med: | |
