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288 Main Street, Alton, NH 03809

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For Sale
Sale Pending

$535,000

5 beds • 4 baths • 2,496 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $214.34
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

(Agents, see non-public remarks) Wonderful 3-unit multifamily with excellent value-add potential, just a short walk to Lake Winnipesaukee and Alton Bay. This property is fully leased and has excellent rental history. The three units combined currently gross $56,400 annually. Rents in the 2BR, and 1BR + office units are below market. In addition to the three units, there is a large 30'x50' outbuilding on site that is currently vacant. The garage below is being rented out for storage at $350/month (also below market). There are three furnaces that could be zoned so that each unit is paying their own heat ($6k savings). With the property being zoned Residential Commercial (up to six units), buyers should look into the possibility of adding more units in the outbuilding space. It is perfectly set up to accommodate two 750 sqft, 1-2 BR units, or one large unit. According to the zoning ordinance for residential commercial, you're allowed a unit for every 15,000 sqft of land. With the lot being 73,180 sqft there should be enough acreage to expand, especially with the new 2000 + 500 gal septic system that was installed in 2017.
MLS# 4971856

Courtesy Of Duston Leddy Real Estate

(603) 610-8285

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Basement
  • Architecture Style
    Other
  • Heating Fuel
    Natural Gas
  • Heating System
    Forced Air
  • Lot Size
    1.68 Acres
  • Roof Type
    Composition Shingle
  • Rooms
    Basement, Bedroom, Full Bath

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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