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$ 2,385,000
Est. payment /mo
New
3 S Shore Rd Salem, NH 03079
14 Beds
9 Baths
7,674 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,674 sqft
Price per Sqft $310
MLS Listing ID 73389898
Bedrooms 14
Full Baths 9
Year Built 1880
Annual Tax Amount $13,222
Tax Year 2024
Lot Size 1.800 Acres
Acres 1.8
Property Sub-Type 5-9 Family
Property Description
An exciting investment opportunity with you. Located just minutes from I-93 Exit 2 in a low-density single-family neighborhood, this well-maintained 9-unit apartment building sits on a spacious 1.8-acre lot and is connected to city sewer. The property boasts a large and inviting backyard, ample paved parking, and extraland, all within a short walk of Canobie Lake, which offers seasonal views from the third floor. The building is currently occupied and stabilized, presenting an immediateincome stream. Six of the apartments have been recently and completely renovated, featuring modern kitchens with granite countertops and stainless steel appliances,updated bathrooms, refinished or new hardwood flooring, energy-efficient LED lighting, and new decks, sliding doors, and windows. Each unit is separately metered forheat and electricity and the property currently yields a strong 8% capitalization rate. The property also features a large U-shaped driveway providing ease of access.
Location
State NH
County Rockingham
Zoning MDL-01
Direction I93 Exit 2, East on Pelham, 1st left at light on N Policy to Brookdale to Lake Shore to cornerof S S
Rooms
Basement Full
Exterior
Community Features Other
Waterfront Description Lake/Pond,1/2 to 1 Mile To Beach
Roof Type Other
Total Parking Spaces 20
Garage No
Building
Lot Description Gentle Sloping
Story 7
Foundation Block, Granite
Sewer Public Sewer
Water Private
Others
Senior Community false
Listed by RE/MAX Area Real Estate Network