NOT LISTED FOR SALE

1358 Elm St Manchester, NH 03101

Downtown Manchester Neighborhood

Estimated Value: $3,412,984

-- Bed
27 Baths
25,276 Sq Ft
$135/Sq Ft Est. Value

Last Sold September 18, 2019

Last sale price $2,250,000 $89 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $21,348/month

141 Days on Market

About This Home

As of September 2019

Elm Grove Realty is pleased to present 1358 Elm Street for sale. 1358 Elm Street is a mixed-use, brick building located in downtown Manchester on the intersection of Dow Street and Elm Street. This building is comprised of four, fully occupied, ground level retail units on Elm Street and twenty-three apartments with a blend of studio, one-bedroom, and two-bedroom units. Featuring on-site laundry, leased parking directly abutting the building accessed via N Hampshire Lane, an additional off-site leased lot for overflow parking, and three additional, unfinished units. This ±32,364 SF building has had many capital improvements over the years, including the the installation of rubber membrane roofs, window replacement, upgrading the sewer line, conversion to natural gas heating systems, and much more. Many of the apartments in this building are below market rent and haven't been renovated for many years, providing an opportunity for significant value add. This property is located in a Qualified Opportunity Zone. Call Matthew Lefebvre at 603-554-2309 for more information.

Last Agent to Sell the Property

Matt Lefebvre

Downtown Realty License #070207 Listed on: 01/11/2019

Last Buyer's Agent

Matthew Ping

Ledgeview Commercial Partners, LLC License #068621

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,982

Year Built

  • Built in 1890

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Sloped Up

Home Design

  • Brick Exterior Construction
  • Brick Foundation
  • Membrane Roofing

Interior Spaces

  • 27 Full Bathrooms
  • 4-Story Property
  • Unfinished Basement
  • Walk-Out Basement

Parking

  • 21 Car Parking Spaces
  • Leased Parking
  • Paved Parking
  • Off-Street Parking
  • Off-Site Parking

Utilities

  • Hot Water Heating System
  • Heating System Uses Natural Gas
  • Gas Available
  • Natural Gas Water Heater
  • High Speed Internet
  • Phone Available
  • Cable TV Available

Community Details

  • 27 Units
  • 1 Separate Gas Meter

Listing and Financial Details

  • Tax Block 0007

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,982

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Status Detail: Closed
  • Style: Apartment Building, Multi-Family
  • Directions: Property is located on the corner of Elm Street and Dow Street. Off-street parking is available behind building off of N Hampshire Lane.
  • Assessment Amount: 1242800
  • Assessment Year: 2017
  • Construction: Existing
  • Total Stories: 4+
  • Price Per Sq Ft: 89.02
  • Property Class: Multi-Family
  • Sq Ft - Apx Total: 30333
  • Sq Ft - Apx Total Finished: 25276
  • Year Built: 1890
  • Remarks Public: 1358 Elm Street is a mixed-use, brick building located in downtown Manchester on the intersection of Dow Street and Elm Street. This building is comprised of four, fully occupied, ground level retail units on Elm Street and twenty-three apartments with a blend of studio, one-bedroom, and two-bedroom units. Featuring on-site laundry, leased parking directly abutting the building accessed via N Hampshire Lane, an additional off-site leased lot for overflow parking, and three additional, unfinished units. This ±32,364 SF building has had many capital improvements over the years, including the the installation of rubber membrane roofs, window replacement, upgrading the sewer line, conversion to natural gas heating systems, and much more. Many of the apartments in this building are below market rent and haven't been renovated for many years, providing an opportunity for significant value add. This property is located in a Qualified Opportunity Zone.
  • List Agent: 4927
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 4

Interior Features

  • Basement: Yes
  • Basement Access Type: Walkout
  • Basement Description: Bulkhead, Concrete Floor, No Tenant Access, Unfinished
  • Sq Ft - Apx Finished AG: 25276
  • Sq Ft - Apx Unfinished AG: 400
  • Sq Ft - Apx Unfinished BG: 4657

Exterior Features

  • Construction: Masonry
  • Exterior: Brick
  • Foundation: Brick
  • Road Frontage: TBD
  • Roads: Paved, Public
  • Roof: Membrane
  • Easements: Unknown

Garage/Parking

  • Parking: Leased, Off-Site, Off Street, Parking Spaces 21+, Paved

Utilities

  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Water: Public
  • Water Heater: Gas - Natural
  • Heating Fuel: Gas - Natural
  • Heating: Hot Water
  • Separate Utilities: Varies
  • Total Electric Meters: 12
  • Total Gas Meters: 1
  • Total Heat Units: 3
  • Total Ranges: 23
  • Total Refrigerators: 23
  • Total Water Heaters: 2
  • Utilities: Cable - At Site, Gas - On-Site, Internet - Cable, Telephone Available

Lot Info

  • Map: 0158
  • Lot: 0000
  • Lot Sq Ft: 8712
  • Lot Acres: 0.2
  • Lot Description: City Lot, Major Road Frontage
  • Row Parcel Access: Unknown
  • Surveyed: Unknown
  • Zoning: CBD
  • Deed Book: 6279
  • Deed Page: 0663
  • Deed Recorded Type: Warranty

Multi Family

  • Total Full Baths: 27
  • Total Units: 27
  • Total1 Bedroom Units: 6
  • Total2 Bedroom Units: 15

Tax Info

  • Tax Gross Amount: 28982
  • Tax Year: 2017

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 11, 2019
Closed on
Sep 18, 2019
Sold by
Granitz National Props
Bought by
Croydon Holdings Llc
Seller's Agent
Matt Lefebvre
Downtown Realty
Buyer's Agent
Matthew Ping
Ledgeview Commercial Partners, LLC
List Price
$2,430,000
Sold Price
$2,250,000
Premium/Discount to List
-$180,000
-7.41%
Current Estimated Value
$3,412,984

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,162,984
Avg. Annual Appreciation
10.12%
Original Mortgage
$1,687,500
Outstanding Balance
$1,481,591
Interest Rate
3.5%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Estimated Equity
$2,484,883

Purchase Details

Closed on
Aug 22, 2000
Sold by
Bussiere Robert R and Bussiere Theresa
Bought by
Granite Props Rt

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$343,000
Interest Rate
8.13%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Croydon Holdings Llc $2,250,000 --
Granite Props Rt $468,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Croydon Holdings Llc $1,687,500
Previous Owner Granite Props Rt $343,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/18/2019 09/18/19 Sold $2,250,000 0.0% $89 / Sq Ft
06/01/2019 06/01/19 Off Market $2,250,000 -- --
06/01/2019 06/01/19 Pending -- -- --
05/31/2019 05/31/19 Pending -- -- --
05/31/2019 05/31/19 Off Market $2,250,000 -- --
03/25/2019 03/25/19 Price Changed $2,380,000 -2.1% $94 / Sq Ft
01/11/2019 01/11/19 For Sale $2,430,000 -- $96 / Sq Ft
Source: PrimeMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $29,973 $1,530,800 $266,100 $1,264,700
2023 $28,871 $1,530,800 $266,100 $1,264,700
2022 $27,922 $1,530,800 $266,100 $1,264,700
2021 $27,065 $1,530,800 $266,100 $1,264,700
2020 $30,655 $1,243,100 $231,400 $1,011,700
2019 $30,225 $1,242,800 $231,400 $1,011,400
2018 $29,430 $1,242,800 $231,400 $1,011,400
2017 $28,982 $1,242,800 $231,400 $1,011,400
2016 $28,758 $1,242,800 $231,400 $1,011,400
2015 $27,612 $1,178,000 $231,400 $946,600
2014 $27,683 $1,178,000 $231,400 $946,600
2013 -- $1,178,000 $231,400 $946,600
Source: Public Records

Agents Affiliated with this Home

  • Matt Lefebvre

    Seller's Agent in 2019

    Matt Lefebvre

    Downtown Realty

    (603) 554-2309

    2 in this area

    117 Total Sales

    Section Image

  • M

    Buyer's Agent in 2019

    Matthew Ping

    Ledgeview Commercial Partners, LLC

    (603) 591-1246

    20 Total Sales

    Section Image
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Map

Source: PrimeMLS

MLS Number: 4732699

PrimeMLS

APN: MNCH-000158-000000-000007

New Hampshire Hillsborough County Manchester 03101 Downtown Manchester

1358 Elm St, Manchester, NH

This home is located at 1358 Elm St, Manchester, NH 03101 since 11 January 2019 and is currently estimated at $3,412,984, approximately $135 per square foot. This property was built in 1890. 1358 Elm St is a home located in Hillsborough County with nearby schools including Webster School, Hillside Middle School, and Manchester Central High School.

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