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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