Bought with Jen McCullough with Maxfield Real Estate/Wolfeboro and Listed by Sam Harding with Duston Leddy Real Estate Cell: 603-254-3338
Sold
288 Main Street
Alton NH, 03809
$500,000
$200.32 per sqft
Sold
5 Beds
4 Baths
2,496 sqft
Multi-family
Built in 1870
(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.
4971856
MLSⓇ ID
September 27, 2023
Listed
April 30, 2024
Updated
Map
288 Main Street
Alton NH, 03809
Interior Features
Bedrooms
5
Total Bathrooms
4
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Forced Air, Gas - LP/Bottle
Exterior/Building Features
Lot Size
1.68 Acres
Roof
Shingle - Architectural
Sewer
Septic Shared
Other Property Details
Area Name
NH-Belknap
Taxes
$3,549
Tax Frequency
Annually
Days on Market
125
Garage
Yes
Garage Spaces
4
Parking
Detached, Leased, Other, Parking Spaces 6
View
No
Pool
No
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
4/30/2024 | Sold | $500,000 |
Bought with Jen McCullough with Maxfield Real Estate/Wolfeboro and Listed by Sam Harding with Duston Leddy Real Estate Cell: 603-254-3338
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