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$1,795,000 | $244 per sq.ft.
9 Unit Multi Family Home,
305-309 Cedar Street Manchester NH
With 6 - Two Bedroom Units | 3 - Three Bedroom Units
| MLS# 5105141 -
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Listed by Nick Gray Gray Property Group, LLC on August 14th 2026
DESCRIPTION
Excellent 9-unit multifamily investment opportunity in Manchester consisting entirely of spacious 2- and 3-bedroom apartments. The property generates strong rental income, with current rents averaging approximately $1,900/month for 2-bedroom units and $2,500/month for 3-bedroom units. Several units have recently been turned with modest updates, providing a clean, attractive product while maintaining an opportunity for a new owner to continue improving the property and increasing rents over time. The landlord pays for natural gas heat, hot water, and water/sewer. The property is heated by a natural gas boiler, which also provides hot water to three units, while the remaining six units are served by three electric water heaters. Tenants are responsible for their own electricity. The property offers approximately five off-street parking spaces, with additional street parking available in the surrounding neighborhood. Pro forma rents are approximately $229K/year, with pro forma NOI of approximately $149K/year, representing an 8.3% cap rate at the asking price. This is a strong opportunity to acquire a well-located, income-producing multifamily property with a solid unit mix, strong rental income, and additional long-term upside.
Gross Income : $221410
Net Income: $ -
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CONSTRUCTION
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Wood Frame | Vinyl Siding Year Built: 1910
No. of Floors: 3
Total Sq.Ft. Finished: 7356
Above Grade Sq.Ft.: 7356
Price Per SQ.FT.: $244.02
Basement: Unfinished
Heating: Natural Gas
Cooling: None
Electric: 100 Amp Service
Utilities: Cable | Gas On-Site
Electric Meters: 10
Gas_Meters: 1
Style: Multi-Family | Multi-Level
Roof: Flat | Tar and Gravel
Water: Public
Sewer: Public
Seasonal: No
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LAND INFORMATION
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City Lot
Lot size: 0.11 acres
Zoned: MX-2)
Surveyed: No
Flood Zone: No
Road Frontage: 50
Driveway: Paved
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ADDITIONAL INFORMATION
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Taxes $16,692 | Assesed Value $0 in
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AREA INFORMATION
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Data last updated August 15th, 2026
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