261 Union Avenue, Laconia, NH
Residential Income
Listed by Gray Property Group, LLC · Nick Gray
Property Description
9-unit mixed use property in central Laconia consisting of eight 1-bedroom apartments and a 928 SF commercial space. The building has been improved through updates to several apartments and the common areas, and the roof was replaced in 2021. All 8 apartments are occupied and rents are terrific with an average residential rent of $1,432/unit/month, and opportunity exists for the next owner to add revenue by leasing the commercial space. In total, the property generates ~$155K in pro forma gross revenue and ~$105K per year in NOI, corresponding to a 9.3% cap rate at the asking price. Landlord pays for heat, hot water, cold water, and electricity. There are 6 off-street parking spaces and ample street parking in the immediate vicinity. Owner is a real estate licensee.
Property Details
Essentials & finishes
- Bedrooms:0
- Total Baths:0
- SqFt:5,338
- Price / SqFt:$211.69
- Property Type:Residential Income
- Year Built:1885
- County:NH-Belknap
- Town:Laconia, NH
- Status:Active
- Days on Market:36
Primary Features
Interior Features
Financial Details
Additional
External Features
Property History
Price, listing activity & annual taxes for this property
No sales history available.
Market Data
Live snapshot computed from active listings in this town
- Active listings in Laconia196
- Average list price$375,307
- Price range$1,700 – $600,000
- Market sentimentBuyer's Market
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- Principal & Interest$5,714
- Property Tax$1,601
- Home Insurance$235
Estimates use typical New Hampshire costs — a 1.7% effective property-tax rate, insurance at 0.25% of home value/yr, and PMI below 20% down. Actual town tax rates vary; verify with your lender and the town assessor.
Tom DeMatteo
Owl’s Nest Real Estate · Questions?
Market Sentiment
Buyer's MarketBased on 196 active · 0 sold in Laconia (last 90 days)
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