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297 Main, Farmington, NH 03835

4 Bed, 4 Bath Multi-Family Home For Sale

297 Main, Farmington, NH 03835 House For Sale - MLS #4672714
$305,000
4
4
Multi-Family
5+ Family
5
This listing is courtesy of Evan Cochran from Keller Williams Coastal Realty

Property Description for 297 Main, Farmington, NH 03835

Turnkey investment opportunity currently operating at a cap rate of 11.95% located on 3.3 acres of land alongside the Cocheco River and Farmington Country Club. This property includes a 4-unit residential building and an auto mechanic shop with an additional 2-bedroom apartment and office space. The long-running auto mechanic shop is leased for $1,650/mo, and is grandfathered in as the only mechanic shop allowed in Farmington's main commercial district. All residential units are leased at market rents, and common areas of the building are clean and well-maintained. Will work well for investors looking for passive income from a stabilized property that does not need a lot of work, and could possibly be expanded beyond its current footprint.

Interior Details

3,600 sq. ft.
$84.72/sq. ft.
8
Public
Public

Exterior Details

3.30 acres
143,748 sq. ft.
2
Heated
2 Garage Spaces
Wood Frame
Brick; Concrete

Other Details

4672714
1890
$2,880

Units Description

Unit #1
Rooms: 2      Bedrooms: 1      Full / Half Baths: 1      Rent: $720     
Interior Features : Heat Included

Unit #2
Rooms: 2      Bedrooms: 1      Full / Half Baths: 1      Rent: $720     
Interior Features : Heat Included

Unit #3
Rooms: 2      Bedrooms: 1      Full / Half Baths: 1      Rent: $720     
Interior Features : Heat Included

Unit #4
Rooms: 2      Bedrooms: 1      Full / Half Baths: 1      Rent: $720     
Interior Features: Heat Included

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(20%)

Monthly Mortgage Payments

$1,385
$1,930

Town Description

Abenaki Indians once used the Cochecho River for transportation, and had a camping ground on Meetinghouse Hill, where they built birch bark canoes. Otherwise, the river valley was wilderness, through...

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