6 Smith CtFarmington, NH 03835

Property Details for 6 Smith Ct

Year built

1900

Property size (Sq ft)

2,178 SF

Property type

Apartment buildings

Description

This meticulously updated two-unit apartment building in Farmington, NH, presents a compelling investment opportunity. Located at 6 Smith Court, this Class B property boasts a total of 2,178 square feet on a 4,356 square foot lot, offering five parking spaces. Built in 1900 and extensively renovated in 2024, the property features two spacious three-bedroom units, each occupying a floor of this two-story building. The lower unit showcases updated bathrooms, new carpeting, stunning hardwood floors, a modern kitchen with stainless steel appliances, and luxury vinyl flooring. The upper unit also features hardwood floors and attractive wood kitchen cabinets, complemented by a private balcony. Currently operating at 100% occupancy, the property generates a pro-forma NOI of $44,086, translating to a pro-forma cap rate of 11.02%. The asking price is $399,900, or $199,950 per unit, and the price per square foot is $183.61. Conveniently situated near downtown Farmington, this property offers easy access to Route 16, shopping, dining, and major highways, with close proximity to the seacoast, lakes, and mountains. This is a stabilized, cash-flow investment opportunity with significant upside potential. The property is not subject to a ground lease.

Location Insight

City

Farmington

County

Strafford

State

New Hampshire

Latitude

43.3926

Longitude

-71.068

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