51 Ash Street, Manchester, NH 03104
Local realty services provided by:ERA Key Realty Services
51 Ash Street,Manchester, NH 03104
$1,440,000
- - Beds
- - Baths
- 8,786 sq. ft.
- Multi-family
- Active
Listed by: benjamin davis
Office: clements realty group inc.781-595-9600
MLS#:5100705
Source:PrimeMLS
Price summary
- Price:$1,440,000
- Price per sq. ft.:$116.04
About this home
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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Home facts
- Year built:1890
- Listing ID #:5100705
- Added:47 day(s) ago
- Updated:September 06, 2026 at 11:01 AM
Rooms and interior
- Basement Description:Bulkhead, Interior
- Living area:8,786 sq. ft.
Heating and cooling
- Heating:Oil
Structure and exterior
- Roof:Tar and Gravel
- Year built:1890
- Building area:8,786 sq. ft.
- Lot area:0.12 Acres
- Levels:3 Story
Utilities
- Sewer:Public Sewer On-Site
Finances and disclosures
- Price:$1,440,000
- Price per sq. ft.:$116.04
Features and amenities
- Amenities:On-Site
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