Fully Renovated 4-Unit
388 Belmont Street Manchester, NH 03103
For Sale
$799,900
Turnkey four-unit property with all units renovated and newer furnaces and hot water heaters.
Property Size2,335 SF
Price / SF$342.57
Days on Market147
Property Features for 388 Belmont Street
General Information
- Standard status
- Active
- Size
- 2,335 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1921
Listing Agency:
Allison James Estates and Homes
(603) 557-8904
Listed By:
Luciane Ortis
(603) 557-8904
Source:
Compass
Added: Feb 26
Changed: Jul 23
Last Checked: Jul 23 at 9:55AM
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 Allison James Estates and Homes
Investment Insights
Based on property information with market context.
This fully renovated four-unit quadplex offers a turnkey setup for an investor or an owner-occupant. The property is reported as 100% occupied, with one unit on a month-to-month lease. Renovations include newer furnaces and hot water heaters, each stated to be less than one year old.
The property is located at 388 Belmont Street in Manchester, New Hampshire. It is presented as ready to operate with no additional work required beyond ownership.
Configuration-wise, the asset is a four-unit residential income building with unit-level improvements completed throughout, supported by the provided details on mechanical replacements.
The property is located at 388 Belmont Street in Manchester, New Hampshire. It is presented as ready to operate with no additional work required beyond ownership.
Configuration-wise, the asset is a four-unit residential income building with unit-level improvements completed throughout, supported by the provided details on mechanical replacements.
Key Highlights
- Fully renovated 4‑unit property with all units completely renovated from top to bottom
- 100% occupied: 3 units on leases plus 1 unit on a month‑to‑month lease for flexibility
- Newer furnaces and hot water heaters, all less than 1 year old
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 | $47.6k | $20.40 |
| − Vacancy | −$2.6k | −$1.12 |
| EGI | $45.0k | $19.28 |
| − OpEx | −$13.5k | −$5.78 |
| NOI | $31.5k | $13.49 |
2,335 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$450.1K
$393.9K – $525.2K
NOI $31,510 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.1K
NOI $29,343 @ 7.0% cap · market cap 3.67%
Theoretical Best
Specialty Retail
$573.4K
$501.7K – $669.0K
NOI $40,139 @ 7.0% cap · market cap 5.02%
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 - Turnkey four-unit property with all units renovated and newer furnaces and hot water heaters.
Where is this quadplex located?
The property is located at 388 Belmont Street Manchester, NH.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Fully renovated 4‑unit property with all units completely renovated from top to bottom; 100% occupied: 3 units on leases plus 1 unit on a month‑to‑month lease for flexibility; Newer furnaces and hot water heaters, all less than 1 year old
