Courtesy Of Sam Harding Of Duston Leddy Real Estate

288 Main St

Alton, NH 03809 View Map $535,000 Schedule a Tour
Sq.Ft.2,496
Year1870
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(603) 932-5600
 
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Status: Pending - Under Contract
Property Type:Multi-Family
MLS #:4971856
Sq. Feet:2,496
On Site:59 Days
Lot Size:1.68 Acres
County:Belknap

Listing Agent/Office

Agent:Sam Harding
Office:Duston Leddy Real Estate
Broker Phone:603-254-3338
(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.

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Detailed Maps

Community Information

Address:288 Main St, Alton, NH 03809
County:Belknap
City:Alton
Zip Code:03809
Water Body Name:Wentworth Pond

Architecture

Year Built:1870
Stories:1.75
Unit 1: 2 beds, 2, baths, level 1, 1128 sq.ft.. Rent: $1450 (paidMonthly). Status: Leased
Unit 2: 2 beds, 1, bath, level 1, 856 sq.ft.. Rent: $1400 (paidMonthly). Status: Leased
Unit 3: 1 bed, 1, bath, level 2, 576 sq.ft.. Rent: $1500 (paidMonthly). Status: Leased
Roof: Shingle - Architectural
Foundation: Granite, Stone
Basement: Full, Stairs - Interior, Unfinished
Garage Capacity: 4

Features / Amenities

Parking: Detached, Leased, Parking Spaces 6+
Heating: Forced Air
Heat Fuel: Gas - LP/Bottle

Square Footage

Finished Sq. Ft. Unfinished Sq. Ft.
Above Grade 2496 0
Below Grade 0 1440
Non-Conforming 0 0
Total 2496 1440

Property Features

Lot Size: 1.68 Acres
Lot: 0
Water Body: Pond
Water Body Name: Wentworth Pond
Sewer: Septic Shared
Electric: Circuit Breaker(s)
Driveway: Gravel, Paved
Roads: Public
Zoning:Residential Commercial
Directions:Property is on the east side of Rte 11 as you head through town. Property will show up on your GPS.

Tax and Financial Info

Tax - Gross Amount: $3,549
Tax Year: 2022
Gross Income: $56,400
Net Income: $43,896
Operating Expense: $12,504

Schools

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288 Main St Alton,  NH 03809
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288 Main St Alton, NH 03809
 
ASAP
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19
Apr
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Apr
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Apr
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Choose Your Date -- It's Free, Cancel Anytime
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