0 52&58 Pickering RdRochester, NH 03839

Property Details for 0 52&58 Pickering Rd

Year built

1900

Lot size

0.34 AC

Property size (Sq ft)

5,014 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This exceptional value-add investment opportunity presents two adjacent, three-story apartment buildings totaling 5,014 square feet on a 0.34-acre lot in desirable Gonic, Rochester, NH. The property, built in 1900, consists of six units across two buildings, offering a 100% occupancy rate and a pro-forma NOI of $118,151, resulting in a pro-forma cap rate exceeding 13.74%. Each unit boasts unique charm with hardwood floors, tin and tray ceilings, exposed wood beams, and crown molding. Tenants enjoy breathtaking Cocheco River views and direct river access for fishing and canoeing from their expansive backyard. The buildings feature newer roofs and sharp siding, contributing to excellent curb appeal. Separate utilities minimize expenses, and ample parking is available on an adjacent lot. The convenient location is within the Gonic school district, close to local amenities, and offers easy access to downtown Rochester (1.5 miles), Route 16 (3 miles), and Portsmouth (20 miles). The property is zoned for mixed use and is currently operating as a multifamily investment with a modified lease type. The asking price is $859,800, representing a price per unit of $143,300 and a price per square foot of $171.48. This is a cash-flow focused investment with no ground lease.

Location Insight

City

Rochester

County

Strafford

State

New Hampshire

Latitude

43.272

Longitude

-70.9731

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