Victorian Multi-Family Income
221 Atlantic Avenue, North Hampton, NH 03862
New
Historic rental apartments with detached garages and a post-and-beam barn offer flexibility beyond the main residence.
Type:Multi Family
Property size:
4,649 SFPrice / SF:
$252/SF- Added:
- Jul 5, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 6 at 2:14 am
Property Features for 221 Atlantic Avenue
General Information
- Standard status
- Active
- Size
- 4,649 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1896
Listing office Duston Leddy Real Estate
Listing date Jul 5, 2026
Source Laerrealty
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 Duston Leddy Real Estate
HighLights
- Historic rental property with rental apartment revenue and current NOI over $100K
- Main home features stained glass windows, tin ceilings, and true bow and bay windows
- Detached 3‑car garage with a full second story, ready for conversion or storage
- Additional 2‑car garage with a private office space
- 40' x 60' post‑and‑beam barn with storage stalls
Overview
Located at 221 Atlantic Avenue in North Hampton, NH, this circa 1886 Victorian residence is currently operated as a rental apartment property. The main home features notable historic details, including intricate woodwork, stained glass windows, tin ceilings, and true bow and bay windows. Additional outbuildings round out the offering, including a large detached 3-car garage with a full second story that can be used for conversion or storage.
To the side, there is also an additional 2-car garage with a private office space. A 40’x60’ post-and-beam barn complements the site and is currently outfitted with storage stalls. According to the current offering materials, the property is generating revenue through its apartments, and the current NOI is reported to be over $100K, with rents characterized as under market.
For buyers or investors seeking a historic multifamily asset with on-site expansion and reuse opportunities, the combination of multiple garages, an available second-story volume above the detached 3-car, and the dedicated barn structure may support a range of tenant-focused or operational needs. The property’s mixture of established income and substantial supplementary space is designed to appeal to operators interested in managing the current apartments while evaluating future configuration options for the additional buildings.
To the side, there is also an additional 2-car garage with a private office space. A 40’x60’ post-and-beam barn complements the site and is currently outfitted with storage stalls. According to the current offering materials, the property is generating revenue through its apartments, and the current NOI is reported to be over $100K, with rents characterized as under market.
For buyers or investors seeking a historic multifamily asset with on-site expansion and reuse opportunities, the combination of multiple garages, an available second-story volume above the detached 3-car, and the dedicated barn structure may support a range of tenant-focused or operational needs. The property’s mixture of established income and substantial supplementary space is designed to appeal to operators interested in managing the current apartments while evaluating future configuration options for the additional buildings.
Local 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 | $133.9k | $28.80 |
| − Vacancy | −$5.6k | −$1.21 |
| EGI | $128.3k | $27.59 |
| − OpEx | −$57.7k | −$12.42 |
| NOI | $70.5k | $15.17 |
4,649 SF · lease $28.80/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$881.8K – $1.18M
NOI $70,547 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,345 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- North Hampton
- County
- Rockingham
- State
- New Hampshire
- Longitude
- -70.8258448
- Latitude
- 42.9719386
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Historic rental apartments with detached garages and a post-and-beam barn offer flexibility beyond the main residence.
Where is this multifamily property located?
The property is located at 221 Atlantic Avenue North Hampton, NH.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Historic rental property with rental apartment revenue and current NOI over $100K; Main home features stained glass windows, tin ceilings, and true bow and bay windows; Detached 3‑car garage with a full second story, ready for conversion or storage
