463 Lake Avenue,Manchester, NH 03103
Manchester, NH 03103
Description
Turnkey duplex in Manchester's Hanover Hill neighborhood, offering two well-maintained 2-bedroom, 1-bathroom units with functional layouts, stainless steel appliances, and durable vinyl plank flooring. Both units feature washer/dryer hookups, separate electric water heaters, and independent natural gas boilers. Tenants are responsible for heat, hot water, and electricity, while the landlord pays public water and sewer.The property is conveniently located with easy access to Downtown Manchester and Elm Street, the South Willow Street commercial district, and Elliot Hospital. Downtown's restaurants, shops, and entertainment are just minutes away, while the South Willow Street corridor provides convenient access to a wide variety of retail, dining, and everyday amenities. Elliot Hospital is less than a mile from the property, adding further appeal for healthcare professionals and hospital employees.The current owner has taken excellent care of the property, which features a 1-year-old roof, vinyl windows, and a clean, dry basement. A paved driveway and side parking area provide off-street parking for at least two vehicles, with the potential for up to four vehicles with tandem parking.The property is intentionally being marketed vacant, providing an owner-occupant or investor with the opportunity to take immediate possession and select their own tenants. The units were most recently rented for $1,875/month on the first floor and $1,850/month on the second floor. Pro forma financials reflect ~$45,000 in annual gross revenue and ~$29,000 in net income after operating expenses. Whether you are looking to expand your portfolio or owner-occupy, 463 Lake Avenue offers a rare turnkey opportunity in a convenient location. With proximity to Downtown, the South Willow commercial district, and Elliot Hospital, combined with a well-maintained property and established rental history, this duplex is ready for its next owner.
Details
| MLS # | 5108239 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | (10) Active - Active |
| Year | 1880 |
| Days On Site | 18 |
| Listing Provided By | Gray Property Group, LLC | Nick Gray |
Features
| Basement | Y |
|---|---|
| Story(s) | 2 |
| Units | 2 |
| Zoning | MX-2 |
| Acreage | 0.07 |
Interior
| Rooms Total | 0 |
|---|---|
| Cooling | None |
| Heating | Natural Gas |
| Appliances | Electric Water Heater |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Construction Materials | Wood Frame, Clapboard Exterior |
| Foundation Details | Fieldstone |
| Lot Features | City Lot |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Utilities | Cable, Gas On-Site |
|---|---|
| Electric | 100 Amp Service |
| Sewer | Public |
Taxes
| Tax Annual Amount | 6102.36 |
|---|---|
| Tax Assessed Value | 301500 |
| Tax Block | 1 |
| Tax Lot | 0050 |
| Tax Year | 2025 |
Area Information
| State | NH |
|---|---|
| County | Hillsborough |
| City | Manchester |
| Zip Code | 03103 |
| Area | NH Hillsborough |
| Listing VS Median (in 03103) | |
Price: $515,000 low | high Med: $0 On site: 18 low | high Med: | |
Market Activity 03103
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Learn More About This Property
| State | NH |
|---|---|
| County | Hillsborough |
| City | Manchester |
| Zip Code | 03103 |
| Area | NH Hillsborough |
| Listing VS Median (in 03103) | |
Price: $515,000 low | high Med: $0 On site: 18 low | high Med: | |
