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Multifamily

Chestnut Street Apartments

513 Chestnut St, Manchester, NH 03101

Listing Price: $1,320,000

Cap Rate
7.20%
Number of Units
6
GRM
9.72
Occupancy
100.0%
Price/Unit
$220,000
Price/Gross SF
$102.55
Gross SF
12,872

Investment Overview

Marcus & Millichap is pleased to present 513-517 Chestnut Street for sale, a multifamily investment opportunity consisting of 6 large apartments with a total of 17 beds located in Manchester, New Hampshire. The property is being offered individually or in portfolio with 637 Harvard Steet (6 Units) and 520 Beech Street (4 Units). Half of the units at 513-517 Chestnut Street have been renovated. The property provides both stable current cash flow and upside in rents in an area poised to grow steadily and deliver strong rent increases year over year.

The 10-year hold IRR proforma produces a 18% levered IRR.

Investment Highlights

  • Asking 7.2% Current Cap Rate | 8.5% Pro-Forma Cap Rate | 18% IRR and 3.8X Equity Multiple on 10-Year Hold
  • Large units – approximate average 1,300 SF. Recent significant renovations to three of six. Five of the six units are 3-bed.
  • Highly Financeable. Low Basis of just $167 per Rentable SF

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s) NH: 077795

    New Hampshire

Financing By

Multifamily

Chestnut Street Apartments

Listing Price: $1,320,000

Cap Rate
7.20%
Number of Units
6
GRM
9.72
Occupancy
100.0%
Price/Unit
$220,000
Price/Gross SF
$102.55
Gross SF
12,872

Investment Highlights

  • Asking 7.2% Current Cap Rate | 8.5% Pro-Forma Cap Rate | 18% IRR and 3.8X Equity Multiple on 10-Year Hold
  • Large units – approximate average 1,300 SF. Recent significant renovations to three of six. Five of the six units are 3-bed.
  • Highly Financeable. Low Basis of just $167 per Rentable SF

Investment Overview

Marcus & Millichap is pleased to present 513-517 Chestnut Street for sale, a multifamily investment opportunity consisting of 6 large apartments with a total of 17 beds located in Manchester, New Hampshire. The property is being offered individually or in portfolio with 637 Harvard Steet (6 Units) and 520 Beech Street (4 Units). Half of the units at 513-517 Chestnut Street have been renovated. The property provides both stable current cash flow and upside in rents in an area poised to grow steadily and deliver strong rent increases year over year. The 10-year hold IRR proforma produces a 18% levered IRR.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s): NH: 077795

    New Hampshire

Financing By

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