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Listed by Matthew Lefebvre of Elm Grove Realty

This investment property is a turnkey, 16 unit building in the heart of Manchester. Comprised of twelve studio apartments, two studio deluxe apartments, and two 1BR apartments. With an average monthly rent of $775 this property has a stable tenant base and is a solid investment with some opportunities for growth. This building has seen a large number of capital improvements and cost saving measures including conversion of all systems to natural gas, new vinyl siding, insulation, new roofs, upgrading windows to vinyl replacement, unit renovations, installation of laundry room (with coin operated washer/dryer units), lead abatement work throughout the building and much more. This property has lead safe certificates on-file completed in 2013. While room for adding additional income or cutting expenses exists, this property is a perfect investment for someone looking for a stable building that produces a solid return. With a gross income of almost $150,000 and extremely low operating expenses, this is sure to turn a profit for any investor. Showings begin on 07/05/2019.

Property Details of 499 Beech Street

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Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated September 21, 2019.

 

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