Alan J. Goldberg
Nashua, NH
alan.goldberg7@Verizon.net
(603) 882- 4573 FAX (603) 882-4573
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RENTAL PROPERTY FOR SALE
Nine Unit Residential Property - Nashua New Hampshire
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61
Temple St and 15/17 East Pearl St.
Nashua, NH 03060
County: Hillsborough
Building Size 7061 SF
Lot Size: .17 acres
Occupancy: 100%
Year Built: 1900s
Property Description:
This property has 9 Units in two
buildings, 7 two bedroom and 2 one bedroom apartments.
All units have separately metered gas and electricity. Potential to add another
apartment. Lot size is .17 Acres. Rents
are below market value and could be easily raised.
Location Description:
Property is in
the city of Nashua in a residential area off of the main St. the area consisting
of single family houses and offices. It is close to public transportation and
convenient to shopping. It is a few blocks from the Superior Court and District
Court thus lending it to offices conversion.
This property is in an excellent down town location. the area has been improving and there has been a number of attorney offices built to take advantage of the Superior court and district court and registry of deeds within walking distance The city of Nashua is completing the construction of a large senior citizen housing project in the area.
Even with the Rents below market a return on investment of 15% can be easily obtained.
An Investor will have substantial upside opportunity by increasing rents to market rate.
Nashua was voted number one city twice by Money Magazine.
Summary:
Price: $599,900
Price per unit: $66,656
Cash Flow After Debt Service: $22,115
Cap Rate: 9%
Return on Investment: 15%
Pro Forma Cash Flow After Debt Service: $33,059
Pro Forma Return on Investment: 22%
Financing: Will take back a second mortgage to assist with down payment
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