1034 Lancaster Rd, Lancaster, 03584

Multi-Family - Multi-Family For Sale


MLS® #: 4767627
Active, 53 Days on Market

The Pine Tree Apartments is a turnkey apartment complex located on Route 3 in Northumberland. Converted from a motel built in 1960, this 18 unit apartment complex has had almost all of the units fully remodeled, rents increased, and building stabilized over the last few years. Many of systems have been updated including installation of new hot water heaters, heating systems, electrical, sewer lines, and plumbing lines. Because of many of the capital improvements made, operating expenses are very low for this property; less than $15,000 annually for all utility costs. Eight units are on separate utilities and ten units have all utilities included in their rent. With gross rents of over $124,000 and very low operating expenses, this property has a very strong rate of return and is a turnkey investment for anyone looking to own a large apartment building for an affordable price.

Matthew Lefebvre, Elm Grove Realty.

Essential Information

MLS® #: 4767627
Price: $725,000
Bathrooms: 0.00
Square Footage: 7,090
Acres: 1.10
Year Built: 1960
Type: Multi-Family
Sub-Type: Multi-Family
Style: Apartment Building, Conversion
Status: Active

Community Information

Address: 1034 Lancaster Rd
Area: Lancaster
City: Lancaster
County: Coos
State: New Hampshire
Zip Code: 03584


Utilities: Cable, Gas - LP/Bottle, Internet - Cable, Phone
Parking Spaces: 21
Parking: Off Street, On-Site, Parking Spaces 21+, Parking Spaces 6+, Paved


Heating: Gas Heater, Mini Split
Cooling: Mini Split
# of Stories: 1
Stories: 1


Exterior: Vinyl Siding, Brick Veneer
Lot Description: Country Setting, Major Road Frontage
Roof: Shingle - Asphalt
Construction: Wood Frame
Foundation: Concrete

Additional Information

Date Listed: July 29th, 2019
Days on Market: 53
Zoning: RESI


$/SqFt: $102

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Listing information last updated on September 21st, 2019 at 2:51am EDT.