For sale
$585,000
Multifamily property
2,832 SF building0.13 acres lot
$207/SF (asking price ÷ building area)
- Parking reported
422 Hevey StreetManchester, NH 03102
Listing courtesy of BHHS Verani Realty · MyStateMLS #12011038
For sale
$835,000
3,210 SF building0.2 acre lotBuilt 1910
297 Central StreetManchester, NH 03103
Multifamily property · MLS 12034642 · Listed 17 days ago (Oct 19, 2026)
Active: Listed and available according to the MyStateMLS feed.
About this property
At the $835,000 list price, this building runs a 7.5% cap rate on current rents and 2025 operating expenses, 7.8% once Unit 1 is leased at its $2,400 target, and 8.2% pro forma at market rents with a 5% vacancy allowance. The expensive work on this four-unit building is done. Since 2023 the owner has replaced the roof, installed a high-efficiency gas boiler, repaired the fieldstone foundation, updated the electric panels and swapped every horizontal sewer line for PVC. The next owner inherits a building with no major capital projects ahead. The unit mix is a 4 bed, 2 bath first-floor apartment, a 2 bed and two 1 beds. Unit 1 was just renovated, with new first-floor windows and direct access to a fenced yard. It is vacant now and being leased with a target rent of $2,400 a month, so a buyer can either step into a fresh lease or take the unit for themselves. Every unit has a dishwasher, two have in-unit laundry, and there is shared laundry in the basement. The boiler serves all four units. Each unit has a digital thermostat that the landlord can monitor and override remotely, so heat and hot water costs stay under the owner's control. Tenants pay their own electric. The site is where this property separates itself. There are 10 or more parking spaces along the side of the house, and the two spaces out front are rented to non-tenants for extra monthly income. The detached two-car garage has power, and tenants have no access to it. A new owner can keep it as private storage or a workshop, or rent it out as another income stream. Security cameras with no subscription fee are already in place. A rent roll and 2025 operating expenses are available on request.
Description provided by the listing brokerage.
Key facts
- Asking price
- $835,000
- Status
- For sale
- Property type
- MultifamilyFrom the MLS property class
- Building area
- 3,210 SFSource field LivingArea
- Land area
- 0.2 acresSource field LotSizeAcres
- Year built
- 1910
- MLS number
- 12034642
Facts are reported by the listing brokerage. Items not listed were not provided; that does not mean the property lacks them or that they are zero.
Price
- Asking price
- $835,000
- Price per SF of building
- $260/SFAsking price ÷ 3,210 SF reported building area
Building and site
- County
- Hillsborough County
Investment figures reported in the description
- Cap rate
- 7.5% (described as actual or current)"…t price, this building runs a 7.5% cap rate on current rents and 202…"
These figures are as written by the listing agent, without a stated period or supporting statements. Commercial Only does not calculate or verify them. Ask for rent rolls, operating statements and leases before relying on any figure.
Reported features
- Fenced or outdoor yard (from the description)“…indows and direct access to a fenced yard. it is vacant now and being l…”
A mention is not a specification. Confirm power, clear height, doors, parking and code compliance for your use with the listing representative and your own advisers.
Location
The pin is the listing's reported coordinates and may be approximate. It is not a parcel boundary or survey and says nothing about access rights, easements or flood zones. See more listings in Manchester or multifamily property in Manchester.
Why this listing is on Commercial Only
- Multi-unit income property class. (PropertyTypeDetail: multi-unit)
How listings qualify. Something wrong? Report it.
Price and status history
Changes observed by Commercial Only in MyStateMLS data since Nov 3, 2026. This is not a public-record sales or lease history.
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Guides
Listing courtesy of BHHS Verani Realty. Listing agent: Rob LaBrecque. Listings provided by MyStateMLS.
Listing last modified at the source Nov 4, 2026, 12:23 PM UTC. Commercial Only last confirmed MyStateMLS data Nov 5, 2026, 1:31 AM UTC. Information is deemed reliable but not guaranteed; verify all details with the listing representative.