New Listing
406 Belmont Street,Manchester, NH 03103
Manchester, NH 03103
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.
Details
| MLS # | 5110849 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | (10) Active - Active |
| Year | 1920 |
| Days On Site | 2 |
| Listing Provided By | Downtown Realty | Matthew Lefebvre |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 6 |
| Zoning | MX-2 |
| Acreage | 0.10 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural Gas, Oil, Steam |
Exterior
| Exterior Features | Deck, Partial Fence, Covered Porch |
|---|---|
| Roof | Membrane |
| Construction Materials | Wood Frame |
| Foundation Details | Concrete, Fieldstone |
| Lot Features | City Lot, Landscaped, Level |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Off Street, On Site |
Utilities
| Utilities | Other |
|---|---|
| Electric | 100 Amp Service, Circuit Breakers |
| Sewer | Public |
Taxes
| Tax Annual Amount | 8559.5 |
|---|---|
| Tax Block | 0 |
| Tax Lot | 0051 |
| Tax Year | 2025 |
Area Information
| State | NH |
|---|---|
| County | Hillsborough |
| City | Manchester |
| Zip Code | 03103 |
| Area | NH Hillsborough |
| Listing VS Median (in 03103) | |
Price: $850,000 low | high Med: $0 On site: 2 low | high Med: | |
Market Activity 03103
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Learn More About This Property
| State | NH |
|---|---|
| County | Hillsborough |
| City | Manchester |
| Zip Code | 03103 |
| Area | NH Hillsborough |
| Listing VS Median (in 03103) | |
Price: $850,000 low | high Med: $0 On site: 2 low | high Med: | |
