Multifamily

Plaza Gardens

205 Main St, Salem, NH 03079

Listing Price: $6,200,000

Cap Rate
6.19%
Number of Units
30
GRM
12.38
Occupancy
100.00%
Price/Unit
$206,667
Price/Gross SF
$296.74
Gross SF
20,894

Investment Overview

Marcus & Millichap is pleased to present the Plaza Gardens Apartments located in Salem, New Hampshire. Built in 1967, the brick garden-style property is comprised of two buildings on 3.25 acres with a unit breakdown that includes 26 two-bedrooms, 1 one-bedroom and 3 studios. The apartments feature open layouts, modern kitchens and baths, and ample storage; approximately half of the units have been updated in the last 2 years. Additional amenities include laundry, off-street parking and private outdoor space along with a well landscaped grounds.

The Plaza Gardens are conveniently located just over the Massachusetts New Hampshire border on Main Street in Salem, approximately 1-mile from Interstate 93, with access to I-495 and less than 40-minutes to Downtown Boston. In addition, in close proximity are many local and national businesses and amenities, including restaurants and shopping options, four schools, golf and ski resorts and local Salem establishments that make the Plaza Gardens a highly demanded, well situated community for decades to come.

Investment Highlights

  • 30-Unit Garden-Style Apartment Complex on 3.25 acres located in Salem, NH
  • Attractive Unit Mix comprised of (26) Two-Bedrooms, a (1) One-Bed, and (3) Studios
  • Situated along Main Street just 1-mile to I-93 and just 30 mins to Downtown Boston

Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    License(s): NH: 005566

    New Hampshire

Listing Price: $6,200,000

Cap Rate
6.19%
Number of Units
30
GRM
12.38
Occupancy
100.00%
Price/Unit
$206,667
Price/Gross SF
$296.74
Gross SF
20,894

Investment Highlights

  • 30-Unit Garden-Style Apartment Complex on 3.25 acres located in Salem, NH
  • Attractive Unit Mix comprised of (26) Two-Bedrooms, a (1) One-Bed, and (3) Studios
  • Situated along Main Street just 1-mile to I-93 and just 30 mins to Downtown Boston

Investment Overview

Marcus & Millichap is pleased to present the Plaza Gardens Apartments located in Salem, New Hampshire. Built in 1967, the brick garden-style property is comprised of two buildings on 3.25 acres with a unit breakdown that includes 26 two-bedrooms, 1 one-bedroom and 3 studios. The apartments feature open layouts, modern kitchens and baths, and ample storage; approximately half of the units have been updated in the last 2 years. Additional amenities include laundry, off-street parking and private outdoor space along with a well landscaped grounds.

The Plaza Gardens are conveniently located just over the Massachusetts New Hampshire border on Main Street in Salem, approximately 1-mile from Interstate 93, with access to I-495 and less than 40-minutes to Downtown Boston. In addition, in close proximity are many local and national businesses and amenities, including restaurants and shopping options, four schools, golf and ski resorts and local Salem establishments that make the Plaza Gardens a highly demanded, well situated community for decades to come.

Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    License(s): NH: 005566

    New Hampshire

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