NOT LISTED FOR SALE

4 Elm St Lancaster, NH 03584

-- Bed
8 Baths
11,178 Sq Ft
0.28 Acres

Last Sold January 25, 2024

Last sale price $940,000 $84 Per Sq Ft

7 Days on Market

Highlights

  • Wood Flooring
  • High Speed Internet
  • Level Lot
  • Baseboard Heating

About This Home

As of January 2024

Cash flowing 18-Unit Multi-Family with Value Add and Upside Opportunities. 13% CAP Rate. NOI $124,036. Thirteen updated units, four units with long term tenants and one unit ready for your renovation ideas. Over $270K in CapEx expenditures in just the last year including a brand-new rubber roof, new oil tanks, structural reinforcements, apartment renovations and more! Building also has updated electrical, hardwired smoke detectors/fire system, and sprinklers. Parking on site. Located in downtown Lancaster at the corner of Route 3 and Route 135, this 18 unit multi-family is at the center of it all and near major employers such as Weeks Medical Center, PAK Solutions and Trividia Manufacturing. Showings begin 11/3/23. Seller is a licensed real estate agent.

Last Agent to Sell the Property

Nicole Canavan

Rune Stone Realty License #069474 Listed on: 10/31/2023

Rune Stone Realty

Last Buyer's Agent

Wanda Aho

Meadow View Realty, LLC License #054071

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $8,210

Year Built

  • Built in 1910

Lot Details

  • 0.28 Acre Lot
  • Level Lot

Home Design

  • Stone Foundation
  • Wood Frame Construction
  • Membrane Roofing
  • Vinyl Siding

Interior Spaces

  • 11,178 Sq Ft Home
  • 3-Story Property

Flooring

  • Wood
  • Vinyl Plank

Unfinished Basement

  • Walk-Out Basement
  • Connecting Stairway
  • Interior Basement Entry

Parking

  • 1,120 Car Parking Spaces
  • Dirt Driveway
  • On-Site Parking

Utilities

  • Baseboard Heating
  • Heating System Uses Oil
  • High Speed Internet

Listing and Financial Details

  • Tax Lot 1
  • 24% Total Tax Rate

Community Details

Overview

  • 18 Units
  • Rune Stone Realty Association, Phone Number (603) 287-7115

Building Details

  • Operating Expense $68,476
  • Gross Income $192,900
  • Net Operating Income $124,036

Property Details

Home Type

Apartment

Est. Annual Taxes

$8,210

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Status Detail: Closed
  • Style: Apartment Building
  • Directions: Corner of Route 3 and Route 35 next to Smokin' T's BBQ
  • Flood Zone: Unknown
  • Assessment Amount: 338000
  • Construction: Existing
  • Total Stories: 3
  • Price Per Sq Ft: 84.09
  • Property Class: Multi-Family
  • Sq Ft - Apx Total: 14904
  • Sq Ft - Apx Total Finished: 11178
  • Year Built: 1910
  • List Agent: 19554
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Flooring: Hardwood, Vinyl Plank
  • Basement: Yes
  • Basement Access Type: Walkout
  • Basement Description: No Tenant Access, Stairs - Interior, Unfinished, Interior Access
  • Sq Ft - Apx Finished AG: 11178
  • Sq Ft - Apx Unfinished BG: 3726

Exterior Features

  • Construction: Wood Frame
  • Driveway: Dirt
  • Exterior: Vinyl Siding
  • Foundation: Stone
  • Road Frontage: TBD
  • Roads: Paved, Public
  • Roof: Membrane

Garage/Parking

  • Parking: On-Site, Parking Spaces 11 - 20

Utilities

  • Cable Company: Spectrum
  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Water: Public
  • Water Heater: Off Boiler
  • Heating Fuel: Oil
  • Heating: Baseboard
  • Electric Company: EverSource
  • Total Electric Meters: 18
  • Total Heat Units: 2
  • Total Ranges: 18
  • Total Refrigerators: 18
  • Total Water Heaters: 2
  • Trash: Curbside, Municipal
  • Utilities: Internet - Cable

Condo/Co-op/Association

  • Mgmt Co Phone: 603-287-7115
  • Management Company: Rune Stone Realty

Lot Info

  • Map: P10
  • Lot: 1
  • Lot Sq Ft: 12197
  • Lot Acres: 0.28
  • Lot Description: City Lot, Level
  • Surveyed: Unknown
  • Zoning: C-COMM
  • Deed Book: 1599
  • Deed Page: 249
  • Deed Recorded Type: Warranty

Multi Family

  • Gross Income: 192900
  • Net Income: 124036
  • Total Units: 18
  • Total1 Bedroom Units: 18

Tax Info

  • Tax Rate: 24.29
  • Tax Gross Amount: 8210
  • Tax Year: 2022

MLS Schools

  • School District: Coos/Lancaster SAU 36

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 List to Sale Price per Sq Ft Prior Sale
01/25/2024 01/25/24 Sold $940,000 -1.1% $84 / Sq Ft
11/07/2023 11/07/23 Pending -- -- --
10/31/2023 10/31/23 For Sale $950,000 +100.4% $85 / Sq Ft
04/29/2022 04/29/22 Sold $474,000 -15.1% $43 / Sq Ft View Prior Sale
02/03/2022 02/03/22 Pending -- -- --
12/29/2021 12/29/21 Price Changed $558,000 -5.1% $50 / Sq Ft
11/12/2021 11/12/21 For Sale $588,000 -- $53 / Sq Ft
Source: PrimeMLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nicole Canavan

    Seller's Agent in 2024

    Nicole Canavan

    Rune Stone Realty

    (603) 566-7305

    3 in this area

    42 Total Sales

    Nicole Canavan
    Section Image

  • W

    Buyer's Agent in 2024

    Wanda Aho

    Meadow View Realty, LLC

  • Jennifer Allen

    Seller's Agent in 2022

    Jennifer Allen

    Lisa Hampton Real Estate

    (603) 631-0365

    18 in this area

    113 Total Sales

    Jennifer Allen
    Section Image
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Map

Source: PrimeMLS

MLS Number: 4976242

PrimeMLS
New Hampshire Coos County Lancaster 03584

4 Elm St, Lancaster, NH

Not Listed for Sale

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