24-32 Summer St, Concord, NH 03303

Description

This portfolio presents an opportunity to acquire two adjacent multifamily properties in the village of Penacook offering scale, flexibility, and immediate upside in a tight Concord-area rental market. 24-26 Summer Street is comprised of five units with a mix of 2BRs and 3BRs, each with separately metered utilities, off-street parking, in-unit laundry, and several long-term tenants. 30-32 Summer Street is comprised of six units, also with a mix of 2BRs and 3BRs, and each with separately metered utilities and a huge lot for off-street parking. Both buildings have large units as well as additional unfinished space within each building providing a new owner with an opportunity to generate additional income by building storage lockers, a laundry room, or even additional apartments subject to city approvals. Buildings have a mix of long-term, below-market rentals as well as recently leased, near-market units giving a blend for a new owner to collect stable income while making modest improvements during natural unit turnover. This portfolio presents an opportunity for an investor to acquire two buildings in the City of Concord but benefit from the more rural surroundings and supply constrained market of Penacook Village.