Fully Leased 9-Unit Apartment
For Sale
$2,295,000
269 Cedar Street, Manchester, NH 03103
A nine-unit multifamily property with six four-bedroom units and three three-bedroom units, fully leased.
Property Size10,215 SF
Price / SF$224.67
Days on Market220
Property Features for 269 Cedar Street
General Information
Standard status
Active
Size
10,215 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
9
Building Details
Year Built
1910
Listing Agency:
MFH Realty
Listed By:
Craig Labrecque · License #070438
(603) 557-4641
Source:
Proctorandgreene
Added: Mar 15
Changed: Oct 19
Last Checked: Oct 19 at 9:15AM
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 MFH Realty
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Investment Insights
Based on property information with market context.
Located at 269–273 Cedar Street in Manchester, this fully leased nine-unit apartment building features six four-bedroom apartments and three three-bedroom apartments, creating a mixed bedroom-count configuration. Tenants are responsible for their own heat, hot water, and electricity, which can help keep operating expenses controlled.
The property’s current Certificate of Occupancy is valid through May 15, 2028, providing continuity for the next owner.
The property’s current Certificate of Occupancy is valid through May 15, 2028, providing continuity for the next owner.
Key Highlights
- Fully leased 9‑unit multifamily at 269‑273 Cedar Street
- Unit mix: six 4‑bedroom apartments and three 3‑bedroom apartments
- Certificate of Occupancy valid through May 15, 2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,366
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,567,320
$2.6M
Cap Rate 7%
$1,833,800
$1.8M
Cap Rate 9%
$1,426,289
$1.4M
Market Conditions
NOI Build-Up for 10,215 SF
Gross rent
$245.2K $24.00/SF
− Vacancy
−$11.8K −$1.15/SF
EGI
$233.4K $22.85/SF
− OpEx
−$105.0K −$10.28/SF
NOI
$128.4K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,567,320
Cap Rate 7%
$1,833,800
Cap Rate 9%
$1,426,289
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.14M
NOI $128,366 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.19M – $2.93M
NOI $175,596 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A nine-unit multifamily property with six four-bedroom units and three three-bedroom units, fully leased.
Where is this apartment building located?
The property is located at 269 Cedar Street Manchester, NH.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Fully leased 9‑unit multifamily at 269‑273 Cedar Street; Unit mix: six 4‑bedroom apartments and three 3‑bedroom apartments; Certificate of Occupancy valid through May 15, 2028
