Two-Building Multifamily
23 Elm Street Milton, NH 03851
For Sale
$1,550,000
Two two-story apartment buildings offer a mix of studio, one-, and three-bedroom units with separate electric metering.
Property Size6,330 SF
Lot Size0.63 Acres
Price / SF$244.87
Days on Market100
Property Features for 23 Elm Street
General Information
Standard status
Active
Size
6,330 SF
Lot size
0.63 Acres
Property subtype
Multi-family
Building Details
Year Built
1890
Listing Agency:
Horvath & Tremblay LLC
Listed By:
William Peck
(603) 329-5903
Source:
Bigislandre
Added: Apr 22
Changed: Jul 28
Last Checked: Jul 29 at 5:00PM
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 Horvath & Tremblay LLC
Investment Insights
Based on property information with market context.
23 Elm St features two two-story residential buildings on a 0.63-acre parcel. The property includes one 3-bedroom/2-bath unit, one 3-bedroom/1.5-bath unit, three 2-bedroom/1-bath units, four 1-bedroom/1-bath units, and three studio units, totaling 6,330 square feet of gross living area in 10,447 square feet of gross area.
The buildings provide more than fourteen off-street parking spaces. The property is located in the village center of Milton, with convenient access to the town’s local commercial corridor, neighborhood services, and surrounding residential areas.
Units are separately metered for electricity, with tenants paying electric directly. Select tenants are responsible for electric-powered hot water, while the landlord is responsible for oil-powered heating, oil-powered hot water in select units, and domestic water and sewer.
The buildings provide more than fourteen off-street parking spaces. The property is located in the village center of Milton, with convenient access to the town’s local commercial corridor, neighborhood services, and surrounding residential areas.
Units are separately metered for electricity, with tenants paying electric directly. Select tenants are responsible for electric-powered hot water, while the landlord is responsible for oil-powered heating, oil-powered hot water in select units, and domestic water and sewer.
Key Highlights
- Two two‑story apartment buildings built in 1890 with 10 total units, including studio, 1‑bedroom, and 3‑bedroom apartments
- Unit mix: one 3BD/2BA, one 3BD/1.5BA, three 2BD/1BA, four 1BD/1BA, and three studio units
- 6,330 SF gross living area in 10,447 SF gross area on a 0.63‑acre parcel
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 | $111.7k | $17.64 |
| − Vacancy | −$3.9k | −$0.62 |
| EGI | $107.8k | $17.02 |
| − OpEx | −$48.5k | −$7.66 |
| NOI | $59.3k | $9.36 |
6,330 SF · lease $17.64/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$846.6K
$740.8K – $987.7K
NOI $59,264 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,543 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two two-story apartment buildings offer a mix of studio, one-, and three-bedroom units with separate electric metering.
Where is this apartment building located?
The property is located at 23 Elm Street Milton, NH.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two two‑story apartment buildings built in 1890 with 10 total units, including studio, 1‑bedroom, and 3‑bedroom apartments; Unit mix: one 3BD/2BA, one 3BD/1.5BA, three 2BD/1BA, four 1BD/1BA, and three studio units; 6,330 SF gross living area in 10,447 SF gross area on a 0.63‑acre parcel
