August 12, 2024 – Will Peck of Horvath & Tremblay has arranged the sale of an eighteen-unit multi-family portfolio in Manchester, New Hampshire. Peck exclusively represented the seller to complete the transaction at a sale price of $2,650,000. The sale represents a per unit price of $147,222.
The Multi-Family Portfolio is located at 227 and 237 Amory Street and 509 Beech Street in Manchester, New Hampshire. The Portfolio consists of three (3), three-story multi-family buildings and contains eighteen (18) residential units comprised of six (6), 1-Bedroom/1-Bathroom units, and twelve (12) 2-Bedroom/1-Bathroom units with 14,536 square feet of living area in 21,621 square feet of total gross area on a combined 0.29-acres of land. The Portfolio has below market rents and offers the opportunity to drive rental rates in an urban-infill, high demand/supply-constrained residential market through programmatic upgrades to the remaining unrenovated unit interiors. The 18 Unit Manchester, NH Portfolio represents a rare opportunity to acquire a critical mass of investment properties in a supply-constrained downtown market within one of southern New Hampshire’s core cities. 227 & 237 Amory Street are located on the west side of Manchester, just across the Merrimack River. The location offers quick access to Interstates 293 and 93, US Route 3 and NH Routes 114 & 114A. The Properties also enjoy close proximity to the Catholic Medical Center (Hospital), Saint Anselm College, West High School, Downtown Manchester amenities, and public transportation (via the Manchester Transit bus service). 509 Beech Street is located in Downtown Manchester, 1-mile from both Southern New Hampshire University and University of New Hampshire at Manchester and is a short walk from Central High School and the SNHU Arena. The Property is within walking distance of a multitude of national and local retailers, restaurants, offices, and entertainment venues. The location also offers quick access to Interstates 293 and 93, US Route 3 and NH Route 28. The Properties are well located within Manchester’s Downtown and provide 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), the banks of the Merrimack River, and area highways.
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.