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Listed by Nicole J Canavan • Rune Stone Realty
$1,400,000
Est. payment /mo
11,178 SqFt
Active
4 Elm ST Lancaster, NH 03584
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,178 sqft
Price per Sqft $125
MLS Listing ID 5081330
Construction Status Existing
Year Built 1910
Annual Tax Amount $17,438
Tax Year 2025
Lot Size 0.280 Acres
Acres 0.28
Property Description
Positioned in the heart of downtown Lancaster at the highly visible corner of Route 3 and Route 135, this 18-unit multifamily property offers investors an opportunity to acquire a stable, income-producing asset with a 7.06% cap rate. The property boasts a strong rental history with many long-term tenants, providing consistent cash flow and operational stability. Over the past several years, there have been significant capital improvements, enhancing both the functionality and long-term value of the asset. Recent upgrades include: *New rubber membrane roof *New oil tanks *Structural reinforcements *Interior apartment refreshes In addition, the fire and sprinkler system successfully passed its 5-year inspection, with ownership proactively completing all recommended (non-mandatory) improvements—demonstrating a high level of care and diligence. Looking ahead, a new boiler is scheduled for installation in May 2026, further improving efficiency and reducing future capital expenditure risk. Strategically located near major employers such as Weeks Medical Center, PAK Solutions, and Trividia Manufacturing, the property benefits from strong local demand and tenant retention. Its central location places residents within walking distance to downtown amenities, services, and major commuter routes. Investment Highlights: * 18 residential units * 7.06% cap rate * Proven rental performance with long-term tenants * Low Vacancy * Extensive recent capital improvements * Additional upside with new boiler installation (May 2026) * Prime downtown corner location * Close proximity to major employers This is an ideal opportunity for investors seeking a turnkey multifamily asset. Group Showing April 16th at 2pm. Please email to be added to the list. Do not show without contacting us.
Location
State NH
County Nh-coos
Area Nh-Coos
Zoning C-COMM
Rooms
Basement Entrance Walk-up
Basement Bulkhead, Concrete Floor, Dirt Floor, Full, No Tenant Access, Exterior Stairs, Interior Stairs, Unfinished, Exterior Access, Basement Stairs
Interior
Cooling None
Flooring Hardwood, Vinyl Plank
Exterior
Utilities Available Cable Available, Telephone Available
Roof Type Flat,Membrane
Building
Story 3
Sewer Public
Architectural Style Apartment Building
Construction Status Existing
NEARBY SCHOOL & BUSINESS
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