Bought with Timothy Baxter • Gray Property Group, LLC
$1,210,000
$1,400,000
13.6%For more information regarding the value of a property, please contact us for a free consultation.
9-11 Worster ST Farmington, NH 03835
7,223 SqFt
Key Details
Sold Price $1,210,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,223 sqft
Price per Sqft $167
MLS Listing ID 4972764
Sold Date 01/30/24
Style Multi-Family
Construction Status Existing
Year Built 1900
Lot Size 0.260 Acres
Acres 0.26
Property Description
Listed at a 8.48% cap rate on current income and $127,273 per unit, the Property includes two adjacent buildings at 9 and 11 Worster St containing eleven (11) rental units on a 0.26-acre parcel. The Properties contain eleven (11) Residential Units made up of three (3), 1-Bedroom/1-Bathroom units, three (3), 1+Bedroom/1-Bathroom units, and five (5), 2-Bedroom/1-Bathroom units. With below-market rents, the opportunity exists to upgrade the exteriors and common areas of the buildings and the unrenovated unit interiors to increase rental rates in a highly desirable residential market positioned just north of Rochester, New Hampshire. The Properties are located on a quiet tree-lined street in a residential neighborhood in the center of Farmington, New Hampshire. The Properties are one block from Main Street and enjoy convenient access to the town’s restaurants, schools, and numerous parks and recreation areas. The Properties are a short walk from several area restaurants (Dough Boys Pizzeria, Farmington House of Pizza, The Joint Bar & Grill, Imperial Garden), a few convenience stores (Cumberland Farms and Mills Market), and are less than 1-mile from a Rite Aid. The Properties offer convenient access to New Hampshire’s largest markets including Portsmouth (25-miles away), Concord (33-miles away), and Manchester (43-miles away). The Properties offer close proximity to Portsmouth, offering a quaint blend of history and coastal charm.
Location
State NH
County Nh-strafford
Area Nh-Strafford
Zoning UR
Rooms
Basement Entrance Interior
Basement Interior Access
Interior
Heating Oil
Cooling None
Exterior
Exterior Feature Asbestos, Vinyl Siding
Utilities Available Other
Roof Type Metal
Building
Lot Description Other
Story 3
Foundation Fieldstone
Sewer Public
Water Public
Construction Status Existing
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP