Brick downtown Manchester with realized and future potential on the corner of Elm and Orange Streets offers 29 units in a Qualified Opportunity Zone. Comprising 7 fully rented commercial units and 22 residential apartments, this property offers a good mix of unit types and diverse income streams. Current gross income of 413k with potential to bring rents up to current market and achieve gross income in excess of 435k per year with incremental value add improvements. Many capital improvements have already been made to this building by the current owner, including installation of rubber membrane roofs, vinyl replacement windows, steam boiler replacement, and many extensive unit turns. Additional cost-saving measures could be applied by separating utilities. COC good through March 2024. 50 space parking lot across Orange street, adjacent to Pearl St parking lot also listed and could sold as a package. MLS#4950808

Listing courtesy of Matthew Ping of Ledgeview Commercial Partners, LLC: ?



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Data Last Updated: 2023-06-08 09:30 PM UTC