288 Main StreetAlton, NH 03809Price: $535,000

  • Price: $535,000
  • Est. Mortgage of $/month
  • 210 Days on Market
$
$
%
$/month over payments
Federal 30-year interest rate: 7.1% last updated on Apr 18, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 1.68Acreage
  • 1870Year Built
  • 2,496Square Feet

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Listed by Sam Harding of Duston Leddy Real Estate (Cell: 603-254-3338)
(Agents, see non-public remarks) Wonderful 3-unit multifamily with excellent value-add potential, just a short walk to Lake Winnipesaukee and Alton Bay. This property is fully leased and has excellent rental history. The three units combined currently gross $56,400 annually. Rents in the 2BR, and 1BR + office units are below market. In addition to the three units, there is a large 30'x50' outbuilding on site that is currently vacant. The garage below is being rented out for storage at $350/month (also below market). There are three furnaces that could be zoned so that each unit is paying their own heat ($6k savings). With the property being zoned Residential Commercial (up to six units), buyers should look into the possibility of adding more units in the outbuilding space. It is perfectly set up to accommodate two 750 sqft, 1-2 BR units, or one large unit. According to the zoning ordinance for residential commercial, you're allowed a unit for every 15,000 sqft of land. With the lot being 73,180 sqft there should be enough acreage to expand, especially with the new 2000 + 500 gal septic system that was installed in 2017.

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More Info

Tax Information

  • Tax Year2022

Building

  • Year Built1870
  • Building ConstructionWood Frame
  • StyleNew Englander
  • Units3
  • Unit 1 Bath2
  • Unit 1 Bedrooms2
  • Unit 1 Floor Location1
  • Unit 1 Total Rooms5
  • Unit 2 Bath1
  • Unit 2 Bedrooms2
  • Unit 2 Floor Location1
  • Unit 2 Total Rooms4
  • Unit 3 Bath1
  • Unit 3 Bedrooms1
  • Unit 3 Floor Location2
  • Unit 3 Total Rooms3
  • # of 1 Bedrooms1
  • # of 2 Bedrooms2
  • BasementCrawl Space, Full, Stairs - Interior, Unfinished
  • FoundationGranite, Stone

Basic Information

  • StatusActive With Contract
  • List Price$535,000
  • Date Price Change12/08/2023
  • MLS Number4971856
  • MLS StatusActive Under Contract

Exterior

  • ExteriorClapboard, T1-11, Vinyl Siding
  • RoofShingle - Architectural

Utilities

  • Heat FuelGas - LP/Bottle
  • Heat SystemForced Air
  • WaterPublic Water - On-Site
  • Water HeaterElectric
  • ElectricCircuit Breaker(s)
  • SewerSeptic Shared
  • UtilitiesOther

Other

  • Taxes$3,549
  • Seasonal Y/NNo
  • Date Listed09/27/2023
  • Unit 1 Deposit$1,450
  • Unit 2 Rent Amount$1,400
  • Unit 3 Rent Amount$1,500
  • View Count8

Location

  • TownAlton
  • StateNH
  • Zip03809
  • CountyBelknap
  • ZoningResidential Commercial
  • Flood Zone Y/NUnknown

Property

  • Acreage1.68
  • GarageLeased, Other
  • Parking Spaces4
  • Lot DescriptionHilly
  • Square Feet2,496
  • APX Fin AG Sqft2,496
  • Road Frontage190
  • RoadsPublic

Amenities

  • PricePerSqFt214.34

Water Body

  • Water Body TypePond
  • Water Body NameWentworth Pond
  • Water AccessNo
  • Water ViewYes
Melanson Real Estate
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Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated April 23, 2024 7:08 PM EDT

 

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