News: Northern New England
Posted: November 1, 2024
Peck of Horvath & Tremblay arranges sale of 18-unit multi-family portfolio for $2.65 million
Manchester, NH Will Peck of Horvath & Tremblay has arranged the sale of an 18-unit multi-family portfolio. The transaction was completed at a sale price of $2.65 million. The sale represents a per unit price of $147,222.
Amory & Beech is located at 227 and 237 Amory St. and 509 Beech St. The portfolio consists of three, three-story multi-family buildings and contains 18 residential units comprised of six, one-bedroom/one-bathroom units, and 12 two-bedroom/one-bathroom units with 14,536 s/f of living area in 21,621 s/f of total gross area on a combined 0.29 acres. The portfolio has below market rents and offers the opportunity to drive rental rates in an urban-infill, high demand/supply-constrained residential market through programmatic upgrades to the remaining unrenovated unit interiors. The properties are well located within the city’s downtown and provide many walkable amenities (shopping, dining, and entertainment) and access to SNHU Arena, several downtown parks (Veteran’s Memorial Park, Bronstein Park, and Victory Park), the banks of the Merrimack River, and area highways.
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