Bought with Jen McCullough • Maxfield Real Estate/Wolfeboro
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Key Details
Sold Price $500,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,496 sqft
Price per Sqft $200
MLS Listing ID 4971856
Sold Date 04/26/24
Bedrooms 5
Full Baths 4
Construction Status Existing
Year Built 1870
Annual Tax Amount $3,549
Tax Year 2022
Lot Size 1.680 Acres
Acres 1.68
Property Description
(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.
Location
State NH
County Nh-belknap
Area Nh-Belknap
Zoning Residential Commercial
Body of Water Pond
Rooms
Basement Entrance Walk-up
Basement Crawl Space, Full, Stairs - Interior, Unfinished
Interior
Heating Gas - LP/Bottle
Cooling None
Basement Type Crawl Space,Full,Stairs - Interior,Unfinished
Exterior
Garage Spaces 4.0
Garage Description Detached, Leased, Other, Parking Spaces 6+
Utilities Available Other
Waterfront Description Yes
View Y/N Yes
Water Access Desc No
View Yes
Roof Type Shingle - Architectural
Waterfront Description Yes
Building
Story 1.75
Foundation Granite, Stone
Sewer Septic Shared
Construction Status Existing
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