261 Union Avenue
Laconia, NH 03246
$1,299,000
Price
8
Beds
8
Baths
5,338 Sq. Ft.
$243 / Sq. Ft.
5,338
Sq. Ft.
$243
per Sq. Ft.
Description
9-unit mixed use property in Central Laconia consisting of eight 1-bedroom apartments and a 928 SF commercial space. The building has been improved through updates to several apartments and the common areas, and the roof was replaced in 2021. The seller will deliver the property fully occupied and rents are terrific with a median residential rent of $1,500/unit/month and commercial rent of $1,500/month. In total, the property generates ~$159K in gross revenue and ~$111K per year in NOI, corresponding...9-unit mixed use property in Central Laconia consisting of eight 1-bedroom apartments and a 928 SF commercial space. The building has been improved through updates to several apartments and the common areas, and the roof was replaced in 2021. The seller will deliver the property fully occupied and rents are terrific with a median residential rent of $1,500/unit/month and commercial rent of $1,500/month. In total, the property generates ~$159K in gross revenue and ~$111K per year in NOI, corresponding to a 8.5% cap rate at the asking price. Landlord pays for heat, hot water, cold water, and electricity. There are 6 off-street parking spaces and ample street parking in the immediate vicinity. Owner is a real estate licensee. Delayed showings will begin on Saturday, November 16th.
- Listed by Nick Gray • Gray Property Group, LLC
Property Details for 261 Union Avenue
Zoning
UC
LISTING UPDATED: 11/09/2024 11:10 PM
Property Details for 261 Union Avenue
| Status | Active |
|---|---|
| MLS # | 5021561 |
| Days on Market | 9 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 1885 |
| Lot Size | 0.08 AC / 3,484 SF |
| County | Belknap County |
Building Information for 261 Union Avenue
Stories2Residences9Year Built1885Building Size-Lot Size0.08 AC / 3,484 SF
Property Information for 261 Union Avenue
Summary
Location and General Information
- City: Laconia
- County: NH-Belknap
- Latitude: 43.531826916869726
- Longitude: -71.463736635581952
- Road Frontage: TBD
- Seasonal: No
- State: NH
- Street Designation: Avenue
- Map: 426
- Zip Code: 03264
Taxes and HOA Information
- Taxes TBD: Unknown
Parking
- Garage: No
- Driveway: Paved
Property
Lot Information
- Block: 220
- Lot: 37
- Lot - Sqft: 3485.0
- Lot Features: Level
- Lot Size Acres: 0.08
- Square Feet Apx Finished Above Grade: 5338.0
- Square Feet Apx Finished AG Source: Public Records
- Square Feet Apx Finished Below Grade: 0.0
- Square Feet Apx Total: 6550.0
- Square Feet Apx Total Finished: 5338.0
- Square Feet Apx Unfinished Above Grade: 0.0
- Square Feet Apx Unfinished Below Grade: 1212.0
- Square Feet Apx Unfinished BG Source: Public Records
Property and Assessments
- Property Class: Multi-Family
- Construction Status: Existing
- Flood Zone: Yes
- Foundation: Brick, Granite, Stone
- PreConstruction: No
- Surveyed: No
- Year Built: 1885
Utilities
- Electric: 100 Amp
- Sewer: Public
- Water Source: Public
- Utilities: Cable
- Internet: Internet - Cable
Interior and Exterior Features
Exterior Features
- Color: Blue
- Construction Materials: Wood Frame, Vinyl Siding
- Roads: Public
- Roof: Shingle - Asphalt
Interior Features
- Basement: Yes
- Basement Access Type: Walkout
- Basement Description: Concrete Floor, Dirt Floor
- Heat Fuel: Gas - Natural
- Heating: Gravity, Hot Water
- Cooling: None
- Total Stories: 2.5
Multi Family
Income & Expenses Information
- Gross Income: $159,480.00
- Net Income: $110,774.00
Multi-Family Information
- Total Units: 9
- Total 1 BR Units: 8
- Total 2 BR Units: 0
- Total 3+ BR Units: 0
Unit Information
Unit 1
- Unit 1 Baths: 1
- Unit 1 Bedrooms: 1
- Unit 1 Lease Term: Month to Month
- Unit 1 Level Number: Unit 0
- Unit 1 Rental Amt Freq: Monthly
- Unit 1 Status: Month to Month
- Unit 1 Rental Amount: $1,500.00
Unit 2
- Unit 2 Lease Term: Month to Month
- Unit 2 Baths: 1
- Unit 2 Status: Month to Month
- Unit 2 Level Number: Unit 1
- Unit 2 Rental Amt Freq: Monthly
- Unit 2 Bedrooms: 1
- Unit 2 Rental Amount: $1,560.00
Unit 3
- Unit 3 Lease Term: Month to Month
- Unit 3 Baths: 1
- Unit 3 Level Number: Unit 2
- Unit 3 Rental Amt Freq: Monthly
- Unit 3 Status: Month to Month
- Unit 3 Bedrooms: 1
- Unit 3 Rental Amount: $1,200.00
Unit 4
- Unit 4 Lease Term: Annual
- Unit 4 Level Number: Unit 3
- Unit 4 Rental Amt Freq: Monthly
- Unit 4 Baths: 1
- Unit 4 Bedrooms: 1
- Unit 4 Status: Leased
- Unit 4 Rental Amount: $1,500.00
Unit 5
- Unit 5 Level Number: Unit 4
- Unit 5 Rental Amt Freq: Monthly
- Unit 5 Status: Leased
- Unit 5 Baths: 1
- Unit 5 Bedrooms: 1
- Unit 5 Lease Term: Annual
- Unit 5 Rental Amount: $1,530.00
Unit 6
- Unit 6 Lease Term: Month to Month
- Unit 6 Level Number: Unit 5
- Unit 6 Baths: 1
- Unit 6 Bedrooms: 1
- Unit 6 Rental Amt Freq: Monthly
- Unit 6 Status: Leased
- Unit 6 Rental Amount: $1,500.00
Unit 7
- Unit 7 Bedrooms: 1
- Unit 7 Baths: 1
- Unit 7 Lease Term: Annual
- Unit 7 Level Number: Unit 6
- Unit 7 Rental Amt Freq: Monthly
- Unit 7 Status: Month to Month
- Unit 7 Rental Amount: $1,500.00
Unit 8
- Unit 8 Baths: 1
- Unit 8 Rental Amount: $1,500.00
- Unit 8 Lease Term: Month to Month
- Unit 8 Level Number: Unit 7
- Unit 8 Rental Amt Freq: Monthly
- Unit 8 Status: Month to Month
- Unit 8 Bedrooms: 1
Property History for 261 Union Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 261 Union Avenue
Taxable ValueLand$125,800Additions$219,200Total$345,000
Tax Record2023$4,799 ($400 / month)
Home Facts
Baths8.5Total Finished SqFt5,102 SqFtAbove Grade Finished SqFt5,102 SqFtUnfinished Basement SqFt1,212 SqFtStories2Lot Size3,500 SqFtStyleOffice BuildingYear Built1885ZoningUCCountyBELKNAPAPNLACO M:426 B:220 L:37
Schools near 261 Union Avenue
This home is within Laconia School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 13 | |||
| Public - | PK to 5 |
Rating | School | Distance |
|---|---|---|
Woodland Heights Elementary School PublicPK to 5 | ||
Laconia Middle School Public6 to 8 | ||
Laconia High School Public9 to 13 | ||
Pleasant Street School PublicPK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Gray Property Group, LLC
Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site 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. Data last updated 11/17/2024 08:56 AM
