203 Alsace StreetManchester, NH 03102Sale Price: $386,000

A lot of opportunity for the savvy investor or owner occupant! Located in a neighborhood of Single-Family and 2 Family homes off Bremer St in one of the Westside's more desirable neighborhoods. Rents are way below market value. One unit is owner occupied, the other has extended family living in it. Each unit is 1,527 sq ft. Based on numbers from the NH Housing 2020 survey; the market rent for the 2-bedroom unit should be a minimum of $1,413 a month. Other 3-bedroom units in the area rent for $1,600 a month and higher. Using these numbers, that is a cap rate around 9%! This building is solid! In 2018 through SNH Services Winter Program, blown-in insulation was added to the attic and walls in addition to weather stripping to the vinyl windows. This building is solid and has vinyl siding, separate utilities, natural gas heat & hot water, 10+ yr. old roof, 3 yr. & 8+ yr. old boilers, circuit breakers, owner's electrical panel, 3 yr. & 5 yr. old hot water tanks. Units could use some updating and the exterior trim & railings will need to be repainted. Owner will have a new COC in place prior to closing.