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Manchester Street Apartments Portfolio

379 Manchester St Manchester, NH 03103

Claim this Listing
For Sale
$1,300,000

Three-building multifamily portfolio in Manchester, NH with value-add potential.

Type:Multifamily
Property size:
6,193 SF
Price / SF:
$209/SF
Added:
Nov 25, 2025
Days on Market:
229
Last Refresh:
May 19 at 9:56 pm

Property Features for 379 Manchester St

General Information

Standard status
Active
Size
6,193 SF
Property subtype
Multifamily

Building Details

Year Built
1898

Listing office New England Realty Advisors LLC

Listing date Nov 25, 2025

Source Nerealtyadvisors

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 New England Realty Advisors LLC


Investment Insights

Based on property information with market context.

The Manchester Street Apartments represent a portfolio of three contiguous three-family properties located in Manchester, NH. The portfolio comprises a total of nine units, with a unit mix of five one-bedroom and four two-bedroom apartments. The properties have been professionally managed and well maintained. Upgrades have been made to many of the hallways, flooring, and apartments, resulting in a more modern aesthetic. Each building features separate utilities, which are paid by the tenants. Landlord responsibilities are limited to water, sewer, and common area electricity. Off-street parking is available. The properties offer an opportunity to raise rents to market rate. The total property size is 6,193 square feet. Manchester, New Hampshire, situated along the Merrimack River, combines urban amenities with natural surroundings. The city has evolved into a center for business, technology, and healthcare, while maintaining its historic architecture. Downtown Manchester offers diverse dining options, cultural attractions such as the Currier Museum of Art, and a vibrant arts scene, with convenient access to New Hampshire's lakes and mountains.

Key Highlights

  • Opportunity to increase rents to market rate for immediate cash flow improvement.
  • Portfolio of three well‑maintained, professionally managed buildings.
  • Desirable unit mix of one and two‑bedroom apartments.

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 $126.3k $20.40
− Vacancy −$6.9k −$1.12
EGI $119.4k $19.28
− OpEx −$35.8k −$5.78
NOI $83.6k $13.49
6,193 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M (±1% cap)
NOI $83,572 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$1.11M
$972.8K – $1.30M (±1% cap)
NOI $77,824 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M (±1% cap)
NOI $106,458 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Bakery (Bike/Boat/Book/etc) Store Florist (Bike/Boat/Book/etc) Store Catering Service Garden Center Tanning Salon (Bike/Boat/Book/etc) Store Carpet & Flooring Store Locksmith

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Three-building multifamily portfolio in Manchester, NH with value-add potential.
Where is this triplex located?
The property is located at 379 Manchester St Manchester, NH.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Opportunity to increase rents to market rate for immediate cash flow improvement.; Portfolio of three well‑maintained, professionally managed buildings.; Desirable unit mix of one and two‑bedroom apartments.
Contact an agent
More about this property
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