52 Myrtle StManchester, NH 03104

Property Details for 52 Myrtle St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.12 AC

Property size (Sq ft)

3,934 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

MNCH M:0039 B:000 L:0025

APU

MNCHM0039B000L0025

Description

This exceptional investment opportunity presents a 12-unit apartment building situated at 52 Myrtle St, Manchester, NH 03104. The property, a two-story brick structure built in 1920 and extensively renovated in 2011, boasts 5,901 square feet on a 0.12-acre lot. The building features a mix of apartment styles: four studio apartments each with a private bathroom, and eight single-room occupancy units sharing three bathrooms. Currently operating at 100% occupancy, this stabilized investment offers a compelling return. All utilities—heat, hot water, electricity, and Wi-Fi—are included in the monthly rent, simplifying management. The building is equipped with a fully functioning sprinkler system and a 24/7 security monitoring system, enhancing safety and peace of mind. On-site, card-operated laundry facilities add convenience for tenants. The property's prime location, just a block from Elm Street, provides easy access to a vibrant array of restaurants, shops, and businesses, and is conveniently located near I-293. The building is zoned UMD. Financial details are available upon request. This meticulously maintained property, owned by the same individual for over 14 years, represents a rare opportunity to acquire a stable, high-performing multifamily asset in a desirable New Hampshire location. The asking price is $1,095,000, or $91,250 per unit, with a price per square foot of $185.56. The net rentable square footage is 3,934 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $806,506

  6.5%

  $744,467

  7%

  $691,290

• Comparable approach

  Method

  Valuation

  Relative Method

  $796,726

  Geo Method

  $796,726

• Alternative Use

  Use

  Valuation

  Residential

  $744,467

  Hospitality

  $681,927

  Educational

  $567,356

  Medical

  $586,868

  Retail

  $882,553

Location Insight

City

Manchester

County

Hillsborough

State

New Hampshire

Latitude

42.9976

Longitude

-71.4624

CBSA code

31700

CBSA name

MANCHESTER-NASHUA, NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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