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148 Union Avenue is amulti-family property for lease in Laconia, NH. The property currently has 1 multi-family space for lease and is marketed by NAI Norwood Group.
The 22 unit apartment complex is a great property for repositioning in the marketplace. The property is a “C” type neighborhood just up the hill from the Winnipesaukee River and in the Downtown River District (DRD). It is also near the Laconia Hospital. Repositioning these units could attract medical professionals who want to enjoy walking distance to work. With a repair cost of $70,000, an investor can expect an internal rate of return of approx. 18.5% in a 5 year holding period. The price per unit is $30,682. There is also a large garage type building on the site that can be reconfigured for self storage space for additional income. Contact broker for investment and financial details. Taxes $10,411 (2011).
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- Chris Norwood, agent and Rofo Pro