Property Description

Well-maintained 9-unit multifamily portfolio located on the East Side of Manchester, consisting of three adjacent 3-unit buildings at 377, 379, and 383 Manchester Street. The portfolio includes six 1-bedroom units and three 2-bedroom units, all with functional layouts. Interiors across the units are serviceable and easy to maintain, suited for consistent tenant demand. Each unit is separately metered, with tenants responsible for natural gas (heat) and electricity (hot water, lights, and plugs), helping to keep operating expenses low, while the landlord covers water and sewer. The properties feature approximately 9-10 off-street parking spaces across a contiguous lot, along with additional street parking. 383 Manchester Street benefits from parking via an easement with the adjacent 379 Manchester Street. Current rents are approximately $1,325-$1,475/month for the 1-bedroom units and ~$1,750/month for the 2-bedroom units, generating a combined ~$163K/year in gross income and an estimated ~$105K in net operating income. This portfolio offers investors the ability to acquire scale within a single location, with operational efficiencies, strong in-place income, and long-term upside through rent growth and continued management improvements.

Property Features