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Nashua Portfolio: 37 Units

38 Lowell St, Nashua, NH 03064

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For Sale

$5,500,000

37 units across 6 buildings in downtown Nashua, New Hampshire.

Type:Multifamily

Property size:

24,164 SF

Price / SF:

$227/SF

HighLights

Significant upside potential through upgrading apartments and raising rents to market rate, currently 50% below market value.
100% occupancy across the 37 units.
Portfolio of 6 buildings in downtown Nashua, NH, all within 1.1 miles of each other.
Ample off‑street parking for each unit.
Favorable tenant situation with over 75% being tenants at will.
5 of 6 buildings have tenant‑paid utilities.

We can help!

Contact an agent

Brad Carlson

For Sale

$5,500,000

37 units across 6 buildings in downtown Nashua, New Hampshire.

Type:Multifamily

Property size:

24,164 SF

Price / SF:

$227/SF

Added:: Nov 25, 2025
Days on Market:: 223
Last Refresh:: May 19 at 9:38 pm

Property Features for 38 Lowell St

General Information

Standard status: Active
Size: 24,164 SF
Property subtype: Multifamily

We can help!

Contact an agent

Brad Carlson

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

HighLights

Significant upside potential through upgrading apartments and raising rents to market rate, currently 50% below market value.
100% occupancy across the 37 units.
Portfolio of 6 buildings in downtown Nashua, NH, all within 1.1 miles of each other.
Ample off‑street parking for each unit.
Favorable tenant situation with over 75% being tenants at will.
5 of 6 buildings have tenant‑paid utilities.

Overview

The Downtown Nashua Portfolio features 37 units across six buildings in Nashua, New Hampshire. The portfolio consists of 26 one-bedroom apartments, nine two-bedroom apartments, and two retail suites. All buildings are located within 1.1 miles of each other, and each property includes off-street parking. The occupancy rate is currently 100%. More than 75% of the tenants are currently tenants at will. The properties have been under the same ownership for over 40 years. Residential rents throughout the portfolio are approximately 50% below market value. Five of the six buildings have tenant-paid utilities. Nashua is a dynamic city in southern New Hampshire, offering a thriving economy, diverse communities, and a strong local business presence. The Merrimack River runs through the city, providing outdoor spaces and recreational opportunities, alongside a bustling downtown with shops, restaurants, and cultural attractions. Its location provides access to Boston and the landscapes of New Hampshire. The properties included in this package are located at 38 Lowell St, 20 Orange St, 24-26 Orange St, 136 W Pearl St, 56 Walnut St, and 39 1/2 Ash St in Nashua, NH. This portfolio presents a value-add opportunity.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$629.2k	$26.04
− Vacancy	−$31.5k	−$1.30
EGI	$597.8k	$24.74
− OpEx	−$269.0k	−$11.13
NOI	$328.8k	$13.61

24,164 SF · lease $26.04/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.70M

$4.11M – $5.48M (±1% cap)

NOI $328,773 @ 7.0% cap · market cap 5.98%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$44.27M

$38.74M – $51.65M (±1% cap)

NOI $3,099,033 @ 7.0% cap · market cap 56.35%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Nashua
County: Hillsborough
State: New Hampshire
Longitude: -71.4651
Latitude: 42.7653

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For sale
Apartment buildings
NH
Nashua
03064
38 Lowell St

What type of property is this?

Apartment building - 37 units across 6 buildings in downtown Nashua, New Hampshire.

Where is this apartment building located?

The property is located at 38 Lowell St Nashua, NH.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Significant upside potential through upgrading apartments and raising rents to market rate, currently 50% below market value.; 100% occupancy across the 37 units.; Portfolio of 6 buildings in downtown Nashua, NH, all within 1.1 miles of each other.