Fabruary 13, 2023 – Will Peck of Horvath & Tremblay has arranged the sale of a 4-unit multi-family property in Manchester, New Hampshire. Peck exclusively represented the seller to complete the transaction at a sale price of $635,000 and $158,750 per unit.
The multi-family property is located at 235 Lake Avenue in Manchester, New Hampshire. The three-story building contains four (4) large 3-Bedroom/1-Bathroom residential units with 4,604 square feet of living area in 7,021 gross square feet on a 0.15-acre parcel. The property also features low-maintenance vinyl siding, five (5) off-street parking spaces and a two-car garage. Additionally, the property is separately metered electricity and gas (heat and hot water) which the tenants pay directly. The property is located along Lake Avenue, seconds from Granite Street, Canal Street and Elm Street, three of the primary thoroughfares in Manchester, NH. The property is located on the center of Downtown Manchester. The location offers quick access to I-293, I-93 and US Route 3. The property also enjoys close proximity to Downtown Manchester amenities, and public transportation (via the Manchester Transit bus service). 235 Lake Avenue is well positioned in a supply-constrained Downtown market within one of southern New Hampshire’s core cities. The Property is well located within Manchester’s Downtown and provides many walkable amenities (shopping, dining, and entertainment) and convenient access to SNHU Arena, several downtown parks (Veteran’s Memorial Park, Bronstein Park, and Victory Park), and the banks of the Merrimack River.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.