Triplex with Garage
For Sale
$685,000
422 Lake Avenue, Manchester, NH 03103
Multi-Family, Manchester, NH
Property Size3,913 SF
Lot Size0.11 Acres
Price / SF$175.06
Days on Market38
Property Features for 422 Lake Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Three Family MDL
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Basement, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 3
Parking features
Off Street
Exterior features
Partial Fence
Fencing
Partial
Appliances
Gas Water Heater
Lot features
City Lot, Curbing, Leased
Elementary school district
Manchester School District
Middle school district
Manchester School District
High school district
Manchester School District
Directions
GPS
Standard status
Active
Size
3,913 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8226
Utilities
Water source
Public
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Laminate, Carpet, Manufactured
Building materials
Wood Frame
Roof type
Slate
Architectural style
Other
Listing Agency:
Keller Williams Realty-Metropolitan
Listed By:
Danielle Bissonnette
(603) 232-8282
Added: Sep 16
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 5109960
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,913-square-foot triplex includes three apartments and a separately rented garage. The third-floor apartment has been refinished, while the first floor has an updated kitchen and bath. Each apartment has its own exterior storage space. Building systems include three 100 AMP electrical panels and a heating system installed 3 years ago; the basement provides additional storage space.
The property occupies a 0.11-acre lot in Manchester, with downtown, hospitals, shopping, restaurants, parks, and public transportation described as a short distance away. Off-street parking is available, and the property is zoned Three Family MDL.
The property occupies a 0.11-acre lot in Manchester, with downtown, hospitals, shopping, restaurants, parks, and public transportation described as a short distance away. Off-street parking is available, and the property is zoned Three Family MDL.
Key Highlights
- Three‑apartment property with a separately rented garage
- 3,913 square feet on a 0.11‑acre lot
- Three 100 AMP electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,804
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,080
$1.1M
Cap Rate 7%
$754,343
$754.3K
Cap Rate 9%
$586,711
$586.7K
Market Conditions
NOI Build-Up for 3,913 SF
Gross rent
$79.8K $20.40/SF
− Vacancy
−$4.4K −$1.12/SF
EGI
$75.4K $19.28/SF
− OpEx
−$22.6K −$5.78/SF
NOI
$52.8K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,080
Cap Rate 7%
$754,343
Cap Rate 9%
$586,711
Alternative Uses
Best Use
Multifamily LT 5
$754.3K
$660.1K – $880.1K
NOI $52,804 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$702.5K
$614.7K – $819.5K
NOI $49,172 @ 7.0% cap · market cap 7.18%
Theoretical Best
Specialty Retail
$960.9K
$840.8K – $1.12M
NOI $67,264 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,584
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments include updated first-floor kitchen and bath, individual storage, and off-street parking.
Where is this triplex located?
The property is located at 422 Lake Avenue Manchester, NH.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Three‑apartment property with a separately rented garage; 3,913 square feet on a 0.11‑acre lot; Three 100 AMP electrical panels
