Remodeled Brick Multifamily
66 Orange Street Manchester, NH 03104
66 Orange Street, Manchester, NH, 03104
$1,595,000
For Sale
$1,595,000
Fully occupied nine-unit brick building with separately metered gas heat and electricity, plus extensive renovations and on-site laundry.
Property Size5,400 SF
Price / SF$295.37
Days on Market126
Property Features for 66 Orange Street
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency
Downtown Realty
Listed by
Matthew Lefebvre
(603) 763-4932
Source
Harborlightrealty
Added: Mar 18 Updated: Jul 10 at 1:54 pm Checked: Jul 15 at 8:36 pm
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 Downtown Realty
Investment Insights
Based on property information with market context.
This remodeled brick multifamily building contains nine fully occupied apartments, including seven one-bedroom units and two two-bedroom units. Tenants are separately metered and pay their own gas heat and electricity, while the owner covers hot water. The property has been fully renovated with new Rinnai gas heating systems, vinyl plank flooring with partial subfloor replacement, rebuilt interior walls, updated kitchens and bathrooms, new doors, and fresh woodwork throughout. Significant plumbing updates were completed as well. Improvements include 54 new windows and a long-lasting membrane roof. Exterior upgrades feature new entryway awnings and security spotlights with cameras, with a reinforced, over-improved structure. On-site coin-operated laundry is also provided, along with three off-street parking spaces that are leased separately.
The building is located less than a block off Elm Street near several new downtown developments. Plentiful on-street parking is available, and a public garage is under construction directly across the street.
For buyers seeking a residential income property, the combination of fully renovated interiors, reduced deferred maintenance, and separately metered utilities supports straightforward operations across the nine units. The existing occupancy and established tenant setup, including tenant-paid heat and electricity and owner-provided hot water, provide a practical foundation for an owner-operator or investor to take over with minimal immediate capital work.
The building is located less than a block off Elm Street near several new downtown developments. Plentiful on-street parking is available, and a public garage is under construction directly across the street.
For buyers seeking a residential income property, the combination of fully renovated interiors, reduced deferred maintenance, and separately metered utilities supports straightforward operations across the nine units. The existing occupancy and established tenant setup, including tenant-paid heat and electricity and owner-provided hot water, provide a practical foundation for an owner-operator or investor to take over with minimal immediate capital work.
Key Highlights
- Remodeled 1900‑built nine‑unit brick multifamily with nine fully occupied units (7 one‑bedroom, 2 two‑bedroom).
- Tenants are separately metered and pay their own gas heat and electricity; owner covers hot water.
- Extensive renovations include updated kitchens and bathrooms, rebuilt interior walls, new doors, fresh woodwork, and significant plumbing updates.
Local Financial Insights For Apartment 5plus
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 | $129.6k | $24.00 |
| − Vacancy | −$6.2k | −$1.15 |
| EGI | $123.4k | $22.85 |
| − OpEx | −$55.5k | −$10.28 |
| NOI | $67.9k | $12.57 |
5,400 SF · lease $24.00/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$969.4K
$848.2K – $1.13M
NOI $67,859 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,826 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully occupied nine-unit brick building with separately metered gas heat and electricity, plus extensive renovations and on-site laundry.
Where is this apartment building located?
The property is located at 66 Orange Street Manchester, NH.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Remodeled 1900‑built nine‑unit brick multifamily with nine fully occupied units (7 one‑bedroom, 2 two‑bedroom).; Tenants are separately metered and pay their own gas heat and electricity; owner covers hot water.; Extensive renovations include updated kitchens and bathrooms, rebuilt interior walls, new doors, fresh woodwork, and significant plumbing updates.
