9-11 Worster StreetFarmington, NH 03835
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Well-maintained 11-unit multifamily property consisting of a 10-unit apartment building adjacent to a single family house, totaling seven 2-bedroom apartments and four 1-bedroom apartments. This property has been significantly improved by the current owner and most units include vinyl plank flooring, fresh paint, and stainless steel appliances. Income is terrific with an average rent of $1,757/unit/month and ~$237K/year in total gross revenue, and further upside income potential exists for a new owner willing to renovate. The Landlord pays for heat, hot water, and cold water / sewer, and the tenants pay for electricity. The property’s ~$162K/year in NOI makes this listing a 8.6% cap at the asking price. The buildings’ shared parking lot accommodates 12-14 vehicles and additional street parking is available in the immediate vicinity. The property is only a couple minute walk to Farmington's downtown and is a commutable distance to Portsmouth (25 miles), Concord (33 miles), and Manchester (43 miles). Owner is a real estate licensee.
| 5 days ago | Listing updated with changes from the MLS® | |
| 2 weeks ago | Price changed to $1,875,000 | |
| 4 weeks ago | Listing first seen on site |
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Data Last Updated: 2024-10-15 07:00 PM UTC
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