4 Elm St Lancaster, NH 03584
Estimated payment $8,824/month
Highlights
- Wood Flooring
- Baseboard Heating
- Walk-Up Access
- Property near a hospital
- Level Lot
About This Home
Positioned in the heart of downtown Lancaster at the highly visible corner of Route 3 and Route 135, this 18-unit multifamily property offers investors an opportunity to acquire a stable, income-producing asset with a 7.06% cap rate. The property boasts a strong rental history with many long-term tenants, providing consistent cash flow and operational stability. Over the past several years, there have been significant capital improvements, enhancing both the functionality and long-term value of the asset. Recent upgrades include:
*New rubber membrane roof
*New oil tanks
*Structural reinforcements
*Interior apartment refreshes In addition, the fire and sprinkler system successfully passed its 5-year inspection, with ownership proactively completing all recommended (non-mandatory) improvements—demonstrating a high level of care and diligence. Looking ahead, a new boiler is scheduled for installation in May 2026, further improving efficiency and reducing future capital expenditure risk. Strategically located near major employers such as Weeks Medical Center, PAK Solutions, and Trividia Manufacturing, the property benefits from strong local demand and tenant retention. Its central location places residents within walking distance to downtown amenities, services, and major commuter routes. Investment Highlights:
* 18 residential units
* 7.06% cap rate
* Proven rental performance with long-term tenants
* Low Vacancy
* Extensive recent capital improvements
* Additional upside with new boiler installation (May 2026)
* Prime downtown corner location
* Close proximity to major employers This is an ideal opportunity for investors seeking a turnkey multifamily asset. Group Showing April 16th at 2pm. Please email to be added to the list. Do not show without contacting us.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $17,438
Year Built
- Built in 1910
Lot Details
- 12,197 Sq Ft Lot
- Level Lot
Home Design
- Flat Roof Shape
- Concrete Foundation
- Wood Frame Construction
- Membrane Roofing
Interior Spaces
- Property has 3 Levels
Flooring
- Wood
- Vinyl Plank
Basement
- Basement Fills Entire Space Under The House
- Walk-Up Access
- Interior and Exterior Basement Entry
- Dirt Floor
Parking
- Gravel Driveway
- Unpaved Parking
- On-Site Parking
- Assigned Parking
Location
- Property near a hospital
- Property is near shops
- City Lot
Utilities
- No Cooling
- Baseboard Heating
- Heating System Uses Oil
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tax Lot 1
- Assessor Parcel Number 10
Community Details
Overview
- 18 Units
Building Details
- 17 Leased Units
- Gross Income $193,620
- Net Operating Income $109,538
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2025 | $17,438 | $827,600 | $117,300 | $710,300 |
| 2024 | $14,997 | $781,900 | $117,300 | $664,600 |
| 2023 | $13,535 | $781,900 | $117,300 | $664,600 |
| 2022 | $7,238 | $298,000 | $73,200 | $224,800 |
| 2021 | $7,805 | $298,000 | $73,200 | $224,800 |
| 2020 | $7,373 | $298,000 | $73,200 | $224,800 |
| 2019 | $7,420 | $298,000 | $73,200 | $224,800 |
| 2018 | $8,098 | $298,000 | $73,200 | $224,800 |
| 2017 | $7,483 | $303,300 | $73,000 | $230,300 |
| 2016 | $7,768 | $303,300 | $73,000 | $230,300 |
| 2015 | $8,338 | $303,300 | $73,000 | $230,300 |
| 2014 | $7,097 | $303,300 | $73,000 | $230,300 |
| 2013 | $7,082 | $303,300 | $73,000 | $230,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/16/2026 04/16/26 | For Sale | $1,400,000 | 0.0% | $125 / Sq Ft | |
| 03/30/2026 03/30/26 | For Sale | $1,400,000 | +48.9% | $125 / Sq Ft | |
| 01/25/2024 01/25/24 | Sold | $940,000 | -1.1% | $84 / Sq Ft | View Prior Sale |
| 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
MLS Number: 5081330
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Copyright 2026 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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