489 Merrimack & Pine Street

Manchester, NH 03103

$3,039,900
Price
—
Beds
12,271 Sq. Ft.
$248 / Sq. Ft.
12,271
Sq. Ft.
$248
per Sq. Ft.

Description

An outstanding opportunity to invest in 3 multifamily properties in Manchester, NH. This portfolio includes 19 units with a 7%+ CAP return, located at 489 Pine Street, 187 Merrimack St, and 355-357 Merrimack St, Total portfolio gross monthly rents are $25,860, totaling a gross annual income of $311,520. Unit mix = (1) three-bedroom unit, eight (8) two-bedroom units, three (3) one-bedroom units, and seven (7) studio-style units. 489 Pine Street has 8 units, one (1) unit with 2 bedrooms & 1 bathroom,...An outstanding opportunity to invest in 3 multifamily properties in Manchester, NH. This portfolio includes 19 units with a 7%+ CAP return, located at 489 Pine Street, 187 Merrimack St, and 355-357 Merrimack St, Total portfolio gross monthly rents are $25,860, totaling a gross annual income of $311,520. Unit mix = (1) three-bedroom unit, eight (8) two-bedroom units, three (3) one-bedroom units, and seven (7) studio-style units. 489 Pine Street has 8 units, one (1) unit with 2 bedrooms & 1 bathroom, and seven (7) studio units with 1 bathroom each. Monthly gross returns total $10,210. 187 Merrimack St has six (6) units, two (2) - 1 bedroom and 1 bathroom units, and four (4) - 2 bedrooms, 1 bathroom units ranging between 500-1175 Sq ft. Monthly gross returns total $9800. 355-357 Merrimack St has five (5) total units across two (2) buildings/structures on one parcel. 355 is a single-family home detached that offers 3 bedrooms, and 1 bath across 1220 Sq Ft. Monthly gross returns total $7600. 357 Merrimack St, is a four (4) unit structure that has three (3)- 2 bedroom, 1 bath units, and one (1)- one bedroom, one bathroom unit. Take advantage of this opportunity to acquire a substantial multifamily portfolio in Manchester, NH all within 0.5 miles of each other including a unique unit mix. its individual property listing at 489 Pine St MLS#5022062, 187 Merrimack St MLS#5022061, 355-357 Merrimack St MLS#5022063. This property must be sold as a 19-unit portfolio.
  1. Listed by Mike Giannone • The Aland Realty Group

Property Details for 489 Merrimack & Pine Street

Water View
No
Waterfront Property
No
Zoning
R3
LISTING UPDATED: 02/15/2025 03:56 PM

Property Details for 489 Merrimack & Pine Street

StatusActive
MLS #5022060
Days on Market102
Taxes$27,755 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1920
Lot Size0.40 AC / 17,424 SF
CountyHillsborough County

Building Information for 489 Merrimack & Pine Street

Stories3Residences19Year Built1920Building Size-Lot Size0.40 AC / 17,424 SF

Property Information for 489 Merrimack & Pine Street

Summary
Location and General Information
  • City: Manchester
  • County: NH-Hillsborough
  • Directions: Three properties all within just a short distance of each other in Manchester, NH; - 489 Pine Street. - 187 Merrimack Street. - 355 - 357 Merrimack Street.
  • Latitude: 42.989247152053466
  • Longitude: -71.443353796295170
  • Road Frontage: Yes
  • Seasonal: No
  • State: NH
  • Street Designation: Street
  • Map: 5
  • Zip Code: 03104
Taxes and HOA Information
  • Tax Year: 2024
  • Taxes TBD: Yes
Parking
  • Garage: Yes
  • Garage Capacity: 1.00
  • Driveway: Paved
Property
Lot Information
  • Block: 0
  • Lot: 15
  • Lot - Sqft: 17424.0
  • Lot Features: Level
  • Lot Size Acres: 0.4
  • Road Frontage Length: 200.0
  • Square Feet Apx Finished Above Grade: 12271.0
  • Square Feet Apx Finished AG Source: Public Records
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Finished BG Source: Public Records
  • Square Feet Apx Total: 18118.0
  • Square Feet Apx Total Finished: 12271.0
  • Square Feet Apx Unfinished Above Grade: 808.0
  • Square Feet Apx Unfinished AG Source: Public Records
  • Square Feet Apx Unfinished Below Grade: 5039.0
  • Square Feet Apx Unfinished BG Source: Public Records
  • Water Body Access: No
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Easements: No
  • Flood Zone: No
  • Foundation: Concrete, Poured Concrete
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1920
Utilities
  • Electric: 100 Amp
  • Sewer: Public
  • Water Source: Public
  • Utilities: Gas - On-Site
  • Separate Utilities: Varies
  • Internet: Internet - Cable
Interior and Exterior Features
Exterior Features
  • Construction Materials: Wood Frame, Vinyl Siding
  • Roof: Shingle - Asphalt
Interior Features
  • Basement: Yes
  • Basement Access Type: Interior
  • Basement Description: Bulkhead, Concrete, Concrete Floor, Dirt, Dirt Floor, Full, Insulated, Other, Stairs - Exterior, Stairs - Interior, Storage - Assigned, Storage - Locked, Storage Space, Unfinished, Interior Access, Exterior Access, Stairs - Basement
  • Total Full Baths: 20
  • Heating: Propane, Natural Gas, Oil, Hot Air, Hot Water, Space Heater
  • Cooling: None
  • Total Stories: 3
Multi Family
Income & Expenses Information
  • Gross Income: $311,520.00
  • Net Income: $221,532.00
  • Operating Expense Incl: Insurance, Maintenance, Other, Professional Management, Snow Removal, Utilities, Water/Sewer
  • Operating Expense: $84,192
Multi-Family Information
  • Total Units: 19
  • Total 1 BR Units: 10
  • Total 2 BR Units: 8
  • Total 3+ BR Units: 1

Property History for 489 Merrimack & Pine Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 489 Merrimack & Pine Street

This home is within Manchester School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Mcdonough School
PublicPK to 5

Hillside Middle School
Public6 to 8

Manchester Central High School
Public9 to 12

Henry Wilson Elementary School
PublicK 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

489 Merrimack & Pine Street is a multi-family home for sale in Manchester, NH 03103. This property was listed for sale on November 13, 2024 by The Aland Realty Group, it's currently listed at $3,039,900. This listing's school district is Manchester School District. Nearby schools include Mcdonough School, Hillside Middle School and Manchester Central High School. 489 Merrimack & Pine Street is a 0-bed, 20-bath, 12,271 sqft multi-family home built in 1920.

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 The Aland Realty Group

Copyright 2025 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 02/24/2025 03:32 AM