288 Main Street

Alton, NH 03809

About this property

(Agents, see non-public remarks) Wonderful 3-unit multifamily with excellent value-add potential, just a short walk to Lake Winnipesaukee and Alton Bay. This property is fully leased and has excellent rental history. The three units combined currently gross $56,400 annually. Rents in the 2BR, and 1BR + office units are below market. In addition to the three units, there is a large 30'x50' outbuilding on site that is currently vacant. The garage below is being rented out for storage at $350/month (also below market). There are three furnaces that could be zoned so that each unit is paying their own heat ($6k savings). With the property being zoned Residential Commercial (up to six units), buyers should look into the possibility of adding more units in the outbuilding space. It is perfectly set up to accommodate two 750 sqft, 1-2 BR units, or one large unit. According to the zoning ordinance for residential commercial, you're allowed a unit for every 15,000 sqft of land. With the lot being 73,180 sqft there should be enough acreage to expand, especially with the new 2000 + 500 gal septic system that was installed in 2017.

Features and Additional Information

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$535,000 Under Contract
2,496 SQFT

Presented By H-K Realty

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Duston Leddy Real Estate
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Area Information

Belknap | NH Belknap County |

$ 535,000
This listing is play_arrow 0.9% lower than the average in the area
$ 539,900 in the area
2,496 SqFt
This listing is play_arrow 26.4% larger than the average in the area
1,974 SqFt in the area
$ 214 $/SqFt
This listing is play_arrow 21.6% less than the average in the area
$ 274 $/SqFt in the area
204 days on site
This listing is play_arrow 827.3% above the average in the area
22 days on site in the area

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Listed By Sam Harding
Brokerage: Duston Leddy Real Estate

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