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Guillermo A Molina Jr

info@theomteam.com +1(978) 360-3441

Listed by Nick Gray • Gray Property Group, LLC

$ 515,000

Est. payment | -/mo

4 Beds

2 Baths

2,028 SqFt

Save

$ 515,000

Est. payment | -/mo

Save

4 Beds

2 Baths

2,028 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,028 sqft

Price per Sqft $253

MLS Listing ID 5108239

Bedrooms 4

Full Baths 2

Construction Status Existing

Year Built 1880

Annual Tax Amount $6,102

Tax Year 2025

Lot Size 3,049 Sqft

Acres 0.07

Property Description

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. Delayed showings will begin on September 11.

Location

State NH

County Nh-hillsborough

Area Nh-Hillsborough

Zoning MX-2

Rooms

Basement Entrance Walk-up

Basement Unfinished

Interior

Cooling None

Flooring Vinyl Plank

Exterior

Utilities Available Cable, Gas On-Site

Roof Type Asphalt Shingle

Building

Story 2

Sewer Public

Architectural Style Duplex

Construction Status Existing

NEARBY SCHOOLS & PROPERTIES

+1(978) 360-3441

info@theomteam.com

190 State Street Unit 5, Newburyport, MA 01950, United States

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463 Lake AVE Manchester, NH 03103