463 Lake Avenue, Manchester, NH

Property Description

Buyers searching Manchester, New Hampshire will want a look at 463 Lake Avenue — a residential income asking $515,000. It features 2,028 square feet of living space. Income properties in this market benefit from steady year-round tenant demand plus the seasonal visitor economy. Also on the sheet: 1880 construction and roughly $254 per square foot. Everything below — photos, details, schools and market data — updates live from the MLS.

Turnkey duplex in Manchester’s Hanover Hill neighborhood, offering two well-maintained 2-bedroom, 1-bathroom units with functional layouts, stainless steel appliances, and durable vinyl plank flooring. Both units feature washer/dryer hookups, separate electric water heaters, and independent natural gas boilers. Tenants are responsible for heat, hot water, and electricity, while the landlord pays public water and sewer. The property is conveniently located with easy access to Downtown Manchester and Elm Street, the South Willow Street commercial district, and Elliot Hospital. Downtown’s restaurants, shops, and entertainment are just minutes away, while the South Willow Street corridor provides convenient access to a wide variety of retail, dining, and everyday amenities. Elliot Hospital is less than a mile from the property, adding further appeal for healthcare professionals and hospital employees. The current owner has taken excellent care of the property, which features a 1-year-old roof, vinyl windows, and a clean, dry basement. A paved driveway and side parking area provide off-street parking for at least two vehicles, with the potential for up to four vehicles with tandem parking. The property is intentionally being marketed vacant, providing an owner-occupant or investor with the opportunity to take immediate possession and select their own tenants. The units were most recently rented for $1,875/month on the first floor and $1,850/month on the second floor. Pro forma financials reflect ~$45,000 in annual gross revenue and ~$29,000 in net income after operating expenses. Whether you are looking to expand your portfolio or owner-occupy, 463 Lake Avenue offers a rare turnkey opportunity in a convenient location. With proximity to Downtown, the South Willow commercial district, and Elliot Hospital, combined with a well-maintained property and established rental history, this duplex is ready for its next owner.

Location Highlights

463 Lake Avenue is a residential income in Manchester, New Hampshire, listed at $515,000. That works out to about $254 per square foot, for a home built in 1880. It has been on the market for 7 days.

At this latitude, Manchester averages roughly 8.3 hours of sun a day in June and 3.6 in December.

Property Details

Essentials & finishes