1034 Lancaster Rd, Lancaster

$725,000

0 Beds
0 Baths
7,090 Sqft
1.1 Acres
0 Garages

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
Bathrooms0.00
Square Footage7,090
Acres1.10
Year Built1960
TypeMulti-Family
Sub-TypeMulti-Family
StyleApartment Building, Conversion
StatusActive
Community Information
Address1034 Lancaster Rd
AreaLancaster
CityLancaster
CountyCoos
StateNew Hampshire
Zip Code03584
Amenities
Parking Spaces6
Utilities

Cable, Gas - LP/Bottle, Internet - Cable, Phone

Parking

Off Street, On-Site, Parking Spaces 6+, Paved, Parking Spaces 21+

Interior
HeatingGas Heater, Mini Split
CoolingMini Split
# of Stories1
Stories1
Exterior
ExteriorVinyl Siding, Brick Veneer
RoofShingle - Asphalt
ConstructionWood Frame
FoundationConcrete
Lot Description

Country Setting, Major Road Frontage

Additional Information
Date ListedJuly 29th, 2019
Days on Market212
ZoningRESI
Listing Details
AgentMatthew Lefebvre
OfficeElm Grove Realty
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Listing information last updated on February 27th, 2020 at 7:37pm EST.