Six-Unit Multifamily
For Sale
$1,299,000
16-18 Cushing Street, Dover, NH 03820
Fully occupied six-unit property with updated building systems, refreshed common areas, and on-site laundry and storage.
Property Size5,496 SF
Price / SF$236.35
Days on Market92
Property Features for 16-18 Cushing Street
General Information
Standard status
Active
Size
5,496 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
6
Amenities
coin-operated washers and dryers
locked storage units
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Coldwell Banker Hobin Realty LLC
Listed By:
Christy Hoffman
(603) 866-2942
Source:
Profoundrealestate
Added: May 1
Changed: Jul 27
Last Checked: Jul 30 at 6:41PM
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 Coldwell Banker Hobin Realty LLC
Investment Insights
Based on property information with market context.
This fully occupied six-unit multifamily building has a consistent rental history and strong positive cash flow, operated by owners who completed multiple capital improvements over time. Reported upgrades include installation of a gas boiler and roof, partial window replacement, and exhaust fans in all bathrooms. Common areas have been refurbished and many areas repainted.
Laundry and storage are built into the basement. The basement includes coin-operated washers and dryers, along with three locked storage units, with one currently leased and two available.
At tenant turnover, units have been improved with updates that include some bathroom updates, new or refreshed flooring, and fresh paint. The property is located on Cushing Street and is described as within walking distance to downtown Dover.
Laundry and storage are built into the basement. The basement includes coin-operated washers and dryers, along with three locked storage units, with one currently leased and two available.
At tenant turnover, units have been improved with updates that include some bathroom updates, new or refreshed flooring, and fresh paint. The property is located on Cushing Street and is described as within walking distance to downtown Dover.
Key Highlights
- Fully occupied 6‑unit multifamily property with consistent rental history
- Gas boiler and roof have been updated, and a third of the windows have been replaced
- Exhaust fans installed in all bathrooms and multiple units have updated bathrooms, flooring, and fresh paint at turnover
Financial Insights For Apartment 5plus
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 | $96.9k | $17.64 |
| − Vacancy | −$3.4k | −$0.62 |
| EGI | $93.6k | $17.02 |
| − OpEx | −$42.1k | −$7.66 |
| NOI | $51.5k | $9.36 |
5,496 SF · lease $17.64/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$735.1K
$643.2K – $857.6K
NOI $51,456 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,925 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied six-unit property with updated building systems, refreshed common areas, and on-site laundry and storage.
Where is this apartment building located?
The property is located at 16-18 Cushing Street Dover, NH.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Fully occupied 6‑unit multifamily property with consistent rental history; Gas boiler and roof have been updated, and a third of the windows have been replaced; Exhaust fans installed in all bathrooms and multiple units have updated bathrooms, flooring, and fresh paint at turnover
