Four-Unit Multifamily
164 Oakland Ave, Manchester, NH 03109
For Sale
$750,000
Four distinct apartment layouts include townhouse-style and garden-style units, with the largest featuring enclosed four-season porches.
Property Size2,856 SF
Price / SF$262.61
Days on Market22
Property Features for 164 Oakland Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
fenced yard
Building Details
Year Built
Listing Agency:
Scott Gregory Group
Listed By:
Scott Strang
Source:
Nhlakesandmountainshomesearch
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 7:00AM
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 Scott Gregory Group
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Investment Insights
Based on property information with market context.
This 1940 multifamily property contains four units totaling 2,856 square feet. The mix includes a three-bedroom townhouse-style apartment, a two-bedroom townhouse-style apartment, a two-bedroom garden-style unit, and a one-bedroom garden-style unit. The three-bedroom unit has hardwood floors, an eat-in kitchen, an in-unit washer and dryer, and enclosed four-season porches. The other three apartments have updated paint, flooring, and appliances.
The property has a level, fenced yard and parking for 10 cars. All four units are currently occupied. The landlord pays utilities other than cable and internet.
The property has a level, fenced yard and parking for 10 cars. All four units are currently occupied. The landlord pays utilities other than cable and internet.
Key Highlights
- Four units: one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom apartment
- 2,856 square feet; built in 1940
- Three‑bedroom townhouse unit includes hardwood floors and an eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,541
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,820
$770.8K
Cap Rate 7%
$550,586
$550.6K
Cap Rate 9%
$428,233
$428.2K
Market Conditions
NOI Build-Up for 2,856 SF
Gross rent
$58.3K $20.40/SF
− Vacancy
−$3.2K −$1.12/SF
EGI
$55.1K $19.28/SF
− OpEx
−$16.5K −$5.78/SF
NOI
$38.5K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,820
Cap Rate 7%
$550,586
Cap Rate 9%
$428,233
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,541 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$512.7K
$448.6K – $598.2K
NOI $35,890 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$701.4K
$613.7K – $818.3K
NOI $49,095 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
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Business Placement
Demographics for 03109, NH
10,580
Population
4,250
Households
2.5
Avg Household Size
42
Median Age
34%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
1,469
Density / Sq Mi
$108,060
Median Household Income
$56,189
Median Earnings
$1,834
Median Rent
$350,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four distinct apartment layouts include townhouse-style and garden-style units, with the largest featuring enclosed four-season porches.
Where is this quadplex located?
The property is located at 164 Oakland Ave Manchester, NH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four units: one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom apartment; 2,856 square feet; built in 1940; Three‑bedroom townhouse unit includes hardwood floors and an eat‑in kitchen
