Four-Unit Multifamily
223 High Street Somersworth, NH 03878
For Sale
$750,000
Well-maintained four-unit property with updated units, separate utilities, and off-street parking, fully leased.
Property Size3,915 SF
Price / SF$191.57
Days on Market109
Property Features for 223 High Street
General Information
- Standard status
- Active
- Size
- 3,915 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1870
Listing Agency:
Keller Williams Coastal Realty
(603) 610-8545
Listed By:
Michael Whitney
(603) 610-8545
Source:
Compass
Added: Apr 6
Changed: Jul 23
Last Checked: Jul 23 at 4:16AM
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 Keller Williams Coastal Realty
Investment Insights
Based on property information with market context.
This four-unit multifamily property is well maintained and has updated units throughout. The building offers a balanced unit mix with two first-floor apartments and two second-floor apartments, including 2-bedroom units and 1-bedroom/studio-style units. The property is described as having updated systems, separate utilities, and off-street parking, supporting a low-maintenance transition for the next owner.
The property is located in the heart of the city at 223 High Street in Somersworth, NH, and is positioned just minutes from downtown, shopping, and major commuter routes.
All units are stated to be fully leased and provide ample natural light, with strong income already in place.
The property is located in the heart of the city at 223 High Street in Somersworth, NH, and is positioned just minutes from downtown, shopping, and major commuter routes.
All units are stated to be fully leased and provide ample natural light, with strong income already in place.
Key Highlights
- 4‑unit multi‑family in Somersworth with all units fully leased
- Unit mix: two 1st‑floor units (1BR and 2BR) and two 2nd‑floor units (1BR studio and 2BR)
- Updated units throughout with separate utilities and off‑street parking
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 | $58.7k | $15.00 |
| − Vacancy | −$1.9k | −$0.50 |
| EGI | $56.8k | $14.50 |
| − OpEx | −$17.0k | −$4.35 |
| NOI | $39.7k | $10.15 |
3,915 SF · lease $15.00/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.8K
$496.8K – $662.4K
NOI $39,743 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$523.6K
$458.2K – $610.9K
NOI $36,654 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.05M
$916.5K – $1.22M
NOI $73,317 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit property with updated units, separate utilities, and off-street parking, fully leased.
Where is this quadplex located?
The property is located at 223 High Street Somersworth, 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: 4‑unit multi‑family in Somersworth with all units fully leased; Unit mix: two 1st‑floor units (1BR and 2BR) and two 2nd‑floor units (1BR studio and 2BR); Updated units throughout with separate utilities and off‑street parking
