261 Union Avenue, Laconia, NH

Property Description

261 Union Avenue, Laconia is a residential income for sale in New Hampshire at $1,130,000. The property offers 5,338 square feet of living space. Income properties in this market benefit from steady year-round tenant demand plus the seasonal visitor economy. The numbers worth knowing: 1885 construction and roughly $212 per square foot. Scroll on for current photos, the complete spec sheet and this Laconia listing's market context. Browse more homes for sale in Laconia.

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.

Location Highlights

261 Union Avenue is a residential income in Laconia, New Hampshire, listed at $1,130,000. That works out to about $212 per square foot, for a home built in 1885. It has been on the market for 3 months.

From here it is 18.9 miles to Downtown Plymouth / Main Street and 25.2 miles to Owl's Nest Resort. At this latitude, Laconia averages roughly 8.4 hours of sun a day in June and 3.6 in December.

Property Details

Essentials & finishes