Well-Maintained 3-Unit
383 Manchester Street Manchester, NH 03103
383 Manchester Street, Manchester, NH, 03103
$629,000
For Sale
$629,000
Three 2-bedroom units with in-unit washer/dryer hookups and separate metering; landlord pays water and sewer.
Property Size2,580 SF
Price / SF$243.80
Days on Market18
Property Features for 383 Manchester Street
General Information
- Standard status
- Active
- Size
- 2,580 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1898
Listing agency
Gray Property Group, LLC
(603) 637-4812
Listed by
Nick Gray
(603) 637-4812
Source
Laerrealty
Added: Jul 5 Updated: Jul 21 at 2:45AM Checked: Jul 21 at 3:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gray Property Group, LLC
Investment Insights
Based on property information with market context.
Well-maintained 3-unit multifamily property offering three 2-bedroom units with functional, serviceable interiors that are designed to be easy to maintain. Each unit includes in-unit washer/dryer hookups. The units are separately metered, with tenants responsible for natural gas (heat) and electricity for hot water, lights, and outlets, while the landlord covers water and sewer.
Off-street parking for three vehicles is available through an easement with the adjacent property at 379 Manchester Street, with additional street parking.
The property is listed as a single asset sale or as part of a larger 9-unit package that includes two adjacent multifamily properties at 377 and 379 Manchester Street, offering a scale opportunity within the same general area.
Off-street parking for three vehicles is available through an easement with the adjacent property at 379 Manchester Street, with additional street parking.
The property is listed as a single asset sale or as part of a larger 9-unit package that includes two adjacent multifamily properties at 377 and 379 Manchester Street, offering a scale opportunity within the same general area.
Key Highlights
- 3‑unit multifamily built in 1898, offering three 2‑bedroom units with functional layouts
- In‑unit washer/dryer hookups in all units with separate metering
- Tenants pay natural gas (heat) and electricity (hot water, lights, and plugs); landlord pays water and sewer
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.6k | $20.40 |
| − Vacancy | −$2.9k | −$1.12 |
| EGI | $49.7k | $19.28 |
| − OpEx | −$14.9k | −$5.78 |
| NOI | $34.8k | $13.49 |
2,580 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$497.4K
$435.2K – $580.3K
NOI $34,816 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$463.2K
$405.3K – $540.4K
NOI $32,421 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$633.6K
$554.4K – $739.2K
NOI $44,350 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three 2-bedroom units with in-unit washer/dryer hookups and separate metering; landlord pays water and sewer.
Where is this triplex located?
The property is located at 383 Manchester Street Manchester, NH.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 3‑unit multifamily built in 1898, offering three 2‑bedroom units with functional layouts; In‑unit washer/dryer hookups in all units with separate metering; Tenants pay natural gas (heat) and electricity (hot water, lights, and plugs); landlord pays water and sewer
