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CASH COW! This package consists of a 9-unit mixed use building at 59-65 Hanson Street, along with a separately deeded, buildable lot at 55 Hanson Street. When full, the building can pull in over $96,600 per year. There are four 1-Bed apartments at $775 per month, one 2-Bed at $1000 per month, one 3-Bed at $1250 per month, and 3 commercial retail/office units at $650, $1300 & $750 per month, respectively. There's also coin-op laundry machines which add to the revenue. All of the apartments have just been leased to new tenants within the last couple of months and they are some amazing tenants! Only one of the commercial units is currently leased and the other two units are being painted and readied for new tenants. Property taxes are just under $11000 per year, water/sewer is approx $4000 per year, insurance is $1500 per year and utilities average approx $10000 per year. That puts the anticipated net at approx $70000 with a full house. At a sale price of $695000, the building is being offered with a very healthy potential cap rate of a 10%! Many improvements within the last 10 years include new siding, windows, and a new 2-bay garage attached to one of the commercial units. More recent improvements include upgrades to all of the apartments - paint, appliances, lights, plumbing fixtures, etc. A brand new roof was also installed 2 years ago. By appointment only - please do not enter the building or discuss the sale with tenants. Seller is a licensed NH Real Estate Agent.

Property Details of 61 HANSON STREET

Property Details

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Exterior Features

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Listed by Jamieson Duston of Bean Group / Portsmouth
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