Renovated Four-Unit
60 Charles St Farmington, NH 03835
New
60 Charles St, Farmington, NH, 03835
$1,095,000
For Sale
$1,095,000
Completely renovated four-unit property with individual high-efficiency propane combi boilers and paved parking on a large site.
Property Size4,030 SF
Lot Size1.00 Acre
Price / SF$271.71
Days on Market3
Property Features for 60 Charles St
General Information
- Standard status
- Active
- Size
- 4,030 SF
- Lot size
- 1.00 Acre
- Property subtype
- Investment
Building Details
- Year Built
- 1988
Listing agency
(603) 714-1144
Listed by
David Christensen
(603) 714-1144
Source
Elliman
Added: Jul 20 Updated: Jul 21 at 10:35AM Checked: Jul 22 at 10:13AM
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 David Christensen
Investment Insights
Based on property information with market context.
This completely renovated four-unit multifamily property was originally built in 1988 and converted from a single-family residence. The building offers four spacious two-bedroom, one-bath units, each updated with brand new stainless steel appliances, flooring, paint, and plumbing and electrical fixtures. Unit improvements include vinyl windows, exterior doors, new exterior stairs and landings, and separate electrical panels. Each unit is served by an individual Navien high-efficiency propane combi boiler, with in-unit laundry hookups and open-concept kitchen/living areas. Layouts provide dual front/rear entrances, and fire-rated separation between units is included.
The property features vinyl siding, public water and sewer, and a large paved parking area. Propane tanks are onsite (two per unit) via Eastern Propane.
The site is described as approximately one acre, and the zoning is identified as a flexible district allowing multiple uses. Additional considerations mentioned include basement storage rental income and an opportunity to develop additional units (buyer to verify), plus possible condominium conversion (buyer to verify).
The property features vinyl siding, public water and sewer, and a large paved parking area. Propane tanks are onsite (two per unit) via Eastern Propane.
The site is described as approximately one acre, and the zoning is identified as a flexible district allowing multiple uses. Additional considerations mentioned include basement storage rental income and an opportunity to develop additional units (buyer to verify), plus possible condominium conversion (buyer to verify).
Key Highlights
- Completely renovated 4‑unit multifamily built in 1988, converted from a single‑family home
- Four 2‑bedroom, 1‑bath units, each with brand new stainless steel appliances and updated flooring, paint, plumbing, and electrical fixtures
- Each unit has an individual Navien high‑efficiency propane combi boiler with in‑unit laundry hookup and dual front/rear entrances
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 | $60.5k | $15.00 |
| − Vacancy | −$2.0k | −$0.50 |
| EGI | $58.4k | $14.50 |
| − OpEx | −$17.5k | −$4.35 |
| NOI | $40.9k | $10.15 |
4,030 SF · lease $15.00/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$584.4K
$511.4K – $681.8K
NOI $40,910 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$539.0K
$471.6K – $628.9K
NOI $37,731 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.08M
$943.4K – $1.26M
NOI $75,471 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Completely renovated four-unit property with individual high-efficiency propane combi boilers and paved parking on a large site.
Where is this quadplex located?
The property is located at 60 Charles St Farmington, NH.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Completely renovated 4‑unit multifamily built in 1988, converted from a single‑family home; Four 2‑bedroom, 1‑bath units, each with brand new stainless steel appliances and updated flooring, paint, plumbing, and electrical fixtures; Each unit has an individual Navien high‑efficiency propane combi boiler with in‑unit laundry hookup and dual front/rear entrances
