Current Use by Public Records
- Apartment buildings
Property Details for 13-15 Summer St
- Year built
- 1912
- Lot size
- 0.10 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a three-unit apartment building located at 13-15 Summer Street in Somersworth, New Hampshire. The property, totaling 3,099 square feet, boasts three newly renovated units, each featuring a modern design. The building, constructed in 1912 and extensively renovated in 2024, offers a blend of historic charm and contemporary comfort. The units comprise a total of eight bedrooms and four bathrooms. Two units are currently leased at market rates, generating immediate income. The third unit is vacant, providing an owner-occupancy option or the potential for additional rental income, leading to a projected cap rate of up to 8.7% when fully leased. Situated in a desirable downtown Somersworth location, this property enjoys convenient access to Route 16/Spaulding Turnpike, providing easy commutes to the Seacoast, Lakes Region, and Maine. The 0.1-acre lot is zoned R3. This property is situated within an Opportunity Zone, potentially offering attractive tax incentives for investors. The asking price is $655,000, translating to $211.36 per square foot and $218,333.33 per unit. A comprehensive offering memorandum is available upon request.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Somersworth
- County
- Strafford
- State
- New Hampshire
- Longitude
- -70.8616
- Latitude
- 43.2559
