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Price Change! reduced by $150,000
down 5% on October 3rd 2024
$3,199,000 | $284 per sq.ft.
16 Unit Multi Family Home,
119 Hanover Street Manchester NH
With 11 - One Bedroom Units
| MLS# 5012399 -
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Listed by Matthew Lefebvre Downtown Realty on September 3rd 2024
DESCRIPTION
119 Hanover Street is a turnkey, mixed-use investment opportunity positioned on the corner of Hanover and Chestnut in the heart of Manchester’s downtown. Sited within a block of major attractions such as the Hanover Street Chophouse, The Palace Theater, and several new multifamily developments, this location is second to none. This two-story brick building boasts 11 apartments (a mix of studio and 1-bedrooms), 5 retail units, and a leased billboard, all of which have seen significant renovations over the last two years. These upgrades include new electrical panels, updated unit plumbing, new high efficiency mini-splits, a new rubber roof, and a freshly painted façade. Additionally, each of the apartments have been painstakingly remodeled with high-end finishes including granite countertops, stainless-steel appliances, premium-LVP flooring, and in-unit air conditioning. The residents can also access the free high-speed wireless internet newly installed throughout the building, utilize the brand-new laundry room, and benefit from the high-resolution cameras providing interior and exterior coverage of the property. All of the commercial units are fully occupied on multi-year leases with a mix of retail and restaurant tenants. The billboard presents additional opportunity for value-add with an at-will operator that has been renting for almost three decades at a below market rate. Don’t let this opportunity to own a turnkey building in Manchester’s downtown pass you by!
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CONSTRUCTION
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Steel Frame | Brick Exterior Year Built: 1910
No. of Floors: 2
Total Sq.Ft. Finished: 11248
Above Grade Sq.Ft.: 11248
Price Per SQ.FT.: $284.41
Basement: Unfinished
Foundation: Fieldstone
Heating: Natural Gas | Electric | Steam
Cooling: Mini Split
Electric: 200 Amp
Utilities: Gas - On-Site | Other
Electric Meters:
Style: Apartment Building
Roof: Rolled
Water: Public
Sewer: Public
Seasonal: No
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LAND INFORMATION
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City Lot | Corner
Lot size: 0.14 acres
Zoned: CBD)
Surveyed: Unk
Flood Zone: No
Roads: Public
Driveway: None
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ADDITIONAL INFORMATION
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Taxes $17,850 | Assesed Value $0 in
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AREA INFORMATION
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Data last updated November 21st, 2024
NH: NEW HAMPSHIRE REAL ESTATE COMMISSION BROKERAGE RELATIONSHIP DISCLOSURE FORM
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