Historic Victorian Multifamily
221 Atlantic Avenue, North Hampton, NH 03862
MULTI_FAMILY - Victorian - North Hampton, NH
Property size:
4,649 SFLot size:
0.87 AcresPrice / SF:
$252/SF- Added:
- May 6, 2026
- Days on Market:
- 57
- Last Refresh:
- Jul 1 at 1:06 pm
Property Features for 221 Atlantic Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2
- Rooms
- Basement
- Parking features
- Off Street, Garage, Driveway
- Patio and Porch features
- Deck, Porch
- Exterior features
- Barn, Deck, Porch
- Appliances
- Electric Water Heater, Tank Water Heater
- Standard status
- Active
- Size
- 4,649 SF
- Lot size
- 0.87 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 10819
Utilities
- Utilities
- Cable Available
- Heating system
- Electric (Heating), Steam, Oil
- Water source
- Public
Building Details
- Year built
- 1896
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet, Tile, Laminate, Hardwood
- Building materials
- Clapboard Exterior, Combination Exterior
- Roof type
- Shingle, Slate
- Architectural style
- Victorian
Listing agent Kirstin Stallkamp (603) 661-8127
Listing office Duston Leddy Real Estate 36 Maplewood Avenue, Portsmouth, NH (603) 610-8285
Listing date May 6, 2026
MLS# 5087322
Listing URL
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Current NOI is over $100K with under market rents, generating revenue through rental apartments
- Victorian home built in 1896 with clapboard exterior and shingle/shale (slate) roof
- Detached 3‑car garage includes a full second story ready for conversion or storage
- Additional 2‑car garage features a private office space
- 40' x 60' post‑and‑beam barn with storage stalls
- Public water service; heating includes electric, steam, and oil
Overview
This Victorian-era multifamily property features a main home with historic interior details, including tin ceilings, true bow and bay windows, and stained glass windows. The offering is a residential income setup currently generating rental revenue. Additional on-site improvements include a detached 3-car garage with a full second story and a separate 2-car garage with a private office space. A 40' x 60' post-and-beam barn is also included and currently set up with storage stalls. Lot size is 0.87 acres and the property size is 4,649 square feet.
Located at 221 Atlantic Avenue in North Hampton, New Hampshire (03862) within Rockingham County, the property is zoned R2. Public remarks describe the current NOI as over $100K, and also note that rents are under market. The site includes multiple accessory structures, offering flexibility for storage, workspace, or future reconfiguration depending on buyer goals.
For buyers and operators seeking a distinctive income property with substantial outbuilding space, the combination of rental apartments, detached garage capacity, and a large barn can support a range of ownership strategies. The layout provides multiple dedicated areas beyond the main residence, including a garage second story and an office within the 2-car garage, which may be useful for day-to-day operations or future adaptation.
Located at 221 Atlantic Avenue in North Hampton, New Hampshire (03862) within Rockingham County, the property is zoned R2. Public remarks describe the current NOI as over $100K, and also note that rents are under market. The site includes multiple accessory structures, offering flexibility for storage, workspace, or future reconfiguration depending on buyer goals.
For buyers and operators seeking a distinctive income property with substantial outbuilding space, the combination of rental apartments, detached garage capacity, and a large barn can support a range of ownership strategies. The layout provides multiple dedicated areas beyond the main residence, including a garage second story and an office within the 2-car garage, which may be useful for day-to-day operations or future adaptation.
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 | $117.2k | $25.20 |
| − Vacancy | −$5.3k | −$1.13 |
| EGI | $111.9k | $24.07 |
| − OpEx | −$33.6k | −$7.22 |
| NOI | $78.3k | $16.85 |
4,649 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$979.0K – $1.31M
NOI $78,318 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$1.01M
$881.8K – $1.18M
NOI $70,547 @ 7.0% cap · market cap 6.00%
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.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- North Hampton
- County
- Rockingham
- State
- New Hampshire
- Longitude
- -70.8272765
- Latitude
- 42.972716
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Income-producing rental apartments within a distinctive Victorian residence, plus detached garages and a post-and-beam barn on 0.87 acres.
Where is this triplex 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: Current NOI is over $100K with under market rents, generating revenue through rental apartments; Victorian home built in 1896 with clapboard exterior and shingle/shale (slate) roof; Detached 3‑car garage includes a full second story ready for conversion or storage
