NOT LISTED FOR SALE

110 N State St Concord, NH 03301

North End Neighborhood
8 Beds
8 Baths
4,802 Sq Ft
8,712 Sq Ft Lot

Last Sold August 29, 2018

Last sale price $690,000 $144 Per Sq Ft

11 Days on Market

About This Home

As of August 2018

Remarkable opportunity to own this fully occupied 8 unit, income producing property in the Capital City, with great rental history. Newly paved parking lot allows tenants to not have to worry about where to park. There are SIX one bedroom units, and TWO spacious studio apartments. Five of the 8 units have been completely renovated and electric has been separated in ALL but two of the units. LEASES in place for the five which have been newly renovated, the other three units are MTM. Newly re-built front porch, and all updated common areas with refinished floors, new exterior doors, and freshly painted which only adds to the VALUE and strong rental demand of this building. The gas fired boiler is well maintained and helps to keep the heating costs down. A Coin-Op laundry and laundry room were recently installed. Let's get to the bottom line: the CURRENT GROSS INCOME is $85,764., with total annual expenses (including taxes) being $23,440., leaving you with an actual NET INCOME of $62,323 annually, with a STRONG cap rate over 9%. The on-site manager takes care of landscaping, snow blowing and day-to-day maintenance. Potential to increase revenue by creating storage units, and renovating the last three units. Opportunities such as this don't appear every day. This is your chance to add a well-maintained, income producing building to your portfolio. Listing agent is related to Seller.

Last Listed By

Debbie Kelley

BHHS Verani Londonderry Brokerage Phone: 603-370-1380 License #067772 Listed on: 06/22/2018

BHHS Verani Londonderry

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $12,652

Year Built

  • Built in 1900

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Sloped Up

Parking

  • Paved Parking

Home Design

  • Concrete Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 8 Full Bathrooms
  • 3-Story Property
  • Walk-Out Basement

Utilities

  • Hot Water Heating System
  • Heating System Uses Natural Gas
  • Water Heater

Listing and Financial Details

  • Legal Lot and Block 10 / 2

Community Details

Overview

  • 8 Units

Building Details

  • Operating Expense $23,440
  • Gross Income $85,764
  • Net Operating Income $62,323

Property Details

Home Type

Apartment

Est. Annual Taxes

$12,652

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Status Detail: Closed
  • Style: Apartment Building
  • Directions: Take Exit 15W from I-93 toward Concord. Turn left onto North Main Street. Turn right onto Franklin Street. At the traffic circle, take the 1st exit.
  • Assessment Amount: 448000
  • Assessment Year: 2017
  • Construction: Existing
  • Total Stories: 3
  • Price Per Sq Ft: 143.69
  • Property Class: Multi-Family
  • Sq Ft - Apx Total: 6476
  • Sq Ft - Apx Total Finished: 4802
  • Year Built: 1900
  • Remarks Public: Remarkable opportunity to own this fully occupied 8 unit, income producing property in the Capital City, with great rental history. Newly paved parking lot allows tenants to not have to worry about where to park. There are SIX one bedroom units, and TWO spacious studio apartments. Five of the 8 units have been completely renovated and electric has been separated in ALL but two of the units. LEASES in place for the five which have been newly renovated, the other three units are MTM. Newly re-built front porch, and all updated common areas with refinished floors, new exterior doors, and freshly painted which only adds to the VALUE and strong rental demand of this building. The gas fired boiler is well maintained and helps to keep the heating costs down. A Coin-Op laundry and laundry room were recently installed. Let's get to the bottom line: the CURRENT GROSS INCOME is $85,764., with total annual expenses (including taxes) being $23,440., leaving you with an actual NET INCOME of $62,323 annually, with a STRONG cap rate over 9%. The on-site manager takes care of landscaping, snow blowing and day-to-day maintenance. Potential to increase revenue by creating storage units, and renovating the last three units. Opportunities such as this don't appear every day. This is your chance to add a well-maintained, income producing building to your portfolio. Listing agent is related to Seller.
  • List Agent: 6346
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Basement: Yes
  • Basement Access Type: Walkout
  • Basement Description: Concrete
  • Sq Ft - Apx Finished AG: 4802
  • Sq Ft - Apx Unfinished BG: 1674

Exterior Features

  • Construction: Wood Frame
  • Driveway: Paved
  • Exterior: Vinyl Siding
  • Foundation: Concrete
  • Road Frontage: TBD
  • Roads: Paved, Public
  • Roof: Shingle - Asphalt

Utilities

  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Water: Public
  • Water Heater: Domestic
  • Heating Fuel: Gas - Natural
  • Heating: Electric, Hot Water

Schools

  • School District: Concord School District SAU #8

Lot Info

  • Map: 59
  • Lot: 10
  • Lot Sq Ft: 8712
  • Lot Acres: 0.2
  • Lot Description: City Lot
  • Surveyed: Unknown
  • Zoning: RD
  • Deed Book: 3556
  • Deed Page: 2079
  • Deed Recorded Type: Warranty

Multi Family

  • Gross Income: 85764
  • Net Income: 62323
  • Total Full Baths: 8
  • Total Units: 8
  • Total1 Bedroom Units: 8

Tax Info

  • Taxes TBD: Unknown
  • Tax Gross Amount: 12652
  • Tax Year: 2017

MLS Schools

  • School District: Concord School District SAU #8

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/29/2018 08/29/18 Sold $690,000 +0.1% $144 / Sq Ft
07/03/2018 07/03/18 Pending -- -- --
06/22/2018 06/22/18 For Sale $689,000 -- $143 / Sq Ft
Source: PrimeMLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2018

    Debbie Kelley

    BHHS Verani Londonderry

    (603) 434-2377

    10 Total Sales

    Debbie Kelley
    Section Image

  • L

    Buyer's Agent in 2018

    Linda Burns

    Coldwell Banker Chelmsford

    (603) 860-0885

    26 Total Sales

    Linda Burns
    Section Image
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Map

Source: PrimeMLS

MLS Number: 4702093

PrimeMLS

New Hampshire Merrimack County Concord 03301 North End

110 N State St, Concord, NH

Homes for Sale in Concord, NH

This home is located at 110 N State St, Concord, NH 03301 since 22 June 2018. This property was built in 1900. 110 N State St is a home located in Merrimack County with nearby schools including Christa McAuliffe School, Rundlett Middle School, and Concord High School.

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