$1,440,000 | $164 per sq.ft. Under Contract
A
9
Unit Multi Family Home, in Manchester NH
With 3 - One Bedroom Units | 6 - Two Bedroom Units MLS# 5100705
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Listed by Benjamin DavisClements Realty Group Inc. on July 20th 2026
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DESCRIPTION
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51 Ash Street consists of nine (9) one-bedroom apartments, including six (6) spacious four-room units and three (3) three-room one-bedroom units. The generous footprint of the four-room apartments creates meaningful flexibility for ownership: these units can be repositioned as two-bedroom apartments to capture additional rental income or maintained as oversized one-bedroom homes that stand apart from competing product in the submarket. Recent improvements include new vinyl siding, new windows, new electrical panels and new decks and porches, reducing near-term capital exposure for a new owner. The property is currently served by a central oil-fired forced hot water heating system and can be converted to natural gas--offering a clear path to significant heating cost savings and improved net operating income. Additional upside exists in the open area at the rear of the building, which presents the possibility of adding on-site parking, a premium amenity in this walkable, parking-constrained neighborhood. The asset is offered at an asking price of $1,440,000 ($160,000/unit), which equates to a going-in Cap Rate of 6.5% and a pro-forma cap of 8.10%. The combination of an irreplaceable location, multiple value-add levers, and Manchester's strong rental fundamentals makes 51 Ash Street a compelling acquisition for investors seeking in place income with significant future upside.
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CONSTRUCTION
Wood Frame | Year Built: 1890
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No. of Floors:3
Total Sq.Ft. Finished: 8786
Above Grade Sq.Ft.: 8786
Apx Below Grade Unfinished Sq.Ft.: 3624
Price Per SQ.FT. 163.90
Basement: Bulkhead | Basement Stairs
Heating: Oil | Boiler
Cooling: None
Electric: On-Site
Utilities: None
Electric Meters:
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Style: Multi-Family
Roof: Tar and Gravel
Water: Public Water On-Site
Sewer: Public Sewer On-Site
Seasonal: No
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LAND LOT INFORMAITION
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Lot Description: City Lot
Lot size: 0.12 acres
Zoned: MX-2 Mixed Use General
Surveyed: Unk
Flood Zone: Unknown
Driveway: Other
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PROPERTY INFORMATION
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Taxes $0
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AREA INFORMATION
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