South Rochester, NH – Andy Yau, a top 25 realtor in New Hampshire according to Fastexpert, has recently listed a stunning duplex with great investment potential in the sought-after South Rochester area. The listing comes at a time when multifamily property listings in the state have hit a low, with only 358 new multifamily listings year-to-date in 2023 compared to 523 multifamily listings in the same period last year, a 32% decrease in new listings.
What’s more alarming is that there are almost one-third less active multifamily listings in New Hampshire, with only 115 multifamily listings available at the time of writing. In Rochester, there are only three multifamily properties available, exacerbating the state’s already critical inventory issues. Investors continue to accumulate investment properties, making inventory issues a huge challenge for homebuyers and real estate professionals alike.
Despite these challenges, Yau’s latest listing offers a rare opportunity for investors and homebuyers alike. The side-by-side duplex was constructed in 1962 and offers excellent curb appeal with sharp vinyl siding and a well-maintained roof. Both units are well-maintained and offer a potential cap rate of 8.94% with low expenses due to separate utilities. The units feature updated kitchens with recessed lighting, elegant tile backsplashes in the bathrooms, hardwood floors in the living room, and tile flooring in the kitchen. Tenants enjoy in-unit laundry, completely separate driveways, a private fenced backyard, and even their own individual, separate shed.
The mechanics, including plumbing, electrical, and heating, feature young Weil-Mclain boilers and are in excellent shape. The property offers a nice lot size over a quarter-acre with ample backyard space. The location couldn’t be better, just minutes from the Spaulding Turnpike, offering easy access to Portsmouth in just under 20 minutes. The property is also conveniently close to restaurants, convenience stores, and schools.
“We’re thrilled to offer such a rare investment opportunity in the South Rochester area,” said Yau. “Despite the current inventory issues, this property is a standout investment that’s sure to attract attention from homebuyers and investors alike.”
The open house for the property is scheduled for Saturday, May 13, from 12-2 PM. Delayed showings until then. For more information, contact Andy Yau at 603.969.6216.
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