News: Northern New England
Posted: August 2, 2012
Valentine Group sells 11-unit Village Green Apartments for $850,000
The Valentine Group sold the Village Green Apartment Building on South Main St. This brick, 11-unit, building with all 2-bedroom units is serviced by municipal water and sewer. Heat and electric are separately metered. On-site parking for 27 cars, on-site storage, energy efficient natural gas heating units and on-site coin-operated laundry round out the amenities.
The sale price per the tax stamps was $850,000, with a cap rate of 9.2%, and a per unit price of about $77,000. Marketing time from the first showing to the closing was less than 90 days. "The multi family market remains strong in Southern N.H. A shortage of good inventory is reflected in the selling price of the Village Green", said Ralph Valentine.
The Valentine Group represented the seller, 26 South Main Street LLC, and assisted the buyer.
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