Kathleen L Dulhagen
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Residential Income at 4 Elm Street, Lancaster
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48 photos

$1,300,000

4 Elm Street
Lancaster, NH 03584
Listed by Nicole J Canavan · Rune Stone Realty
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1910

About this home

Positioned in the heart of downtown Lancaster at the highly visible corner of Route 3 and Route 135, this 18-unit multifamily property offers investors an opportunity to acquire a stable, income-producing asset with a 7.06% cap rate. The property boasts a strong rental history with many long-term tenants, providing consistent cash flow and operational stability. Over the past several years, there have been significant capital improvements, enhancing both the functionality and long-term value of the asset. Recent upgrades include: *New rubber membrane roof *New oil tanks *Structural reinforcements *Interior apartment refreshes In addition, the fire and sprinkler system successfully passed its 5-year inspection, with ownership proactively completing all recommended (non-mandatory) improvements, demonstrating a high level of care and diligence. Looking ahead, a new boiler is scheduled for installation in May 2026, further improving efficiency and reducing future capital expenditure risk. Strategically located near major employers such as Weeks Medical Center, PAK Solutions, and Trividia Manufacturing, the property benefits from strong local demand and tenant retention. Its central location places residents within walking distance to downtown amenities, services, and major commuter routes. Investment Highlights: * 18 residential units * 7.06% cap rate * Proven rental performance with long-term tenants * Low Vacancy * Extensive recent capital improvements * Additional upside with new boiler installation (May 2026) * Prime downtown corner location * Close proximity to major employers This is an ideal opportunity for investors seeking a turnkey multifamily asset. Group Showing April 16th at 2pm. Please email to be added to the list. Do not show without contacting us.

Property details

MLS #
5081330
Property type
Residential Income
Subdivision
N/A
Status
Active
Days on market
126
On market date
N/A
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
0.28 acres

Location

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Nearby schools

Within 10 miles · public school directory data (NCES)

Elementary
Lancaster Elementary School
1.04 mi away · Grades -1-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
383
Student:teacher ratio
10.9:1
District
White Mountain Regional School District
Middle
Groveton High School (Middle)
8.21 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
65
Student:teacher ratio
8.1:1
District
Northumberland School District
High
White Mountains Regional High School
5.1 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
350
Student:teacher ratio
10.0:1
District
White Mountain Regional School District

Mortgage calculator

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Est. monthly payment
$7,979/mo
$260,000 down
$1,040,000 loan
Principal & interest$6,745
Property tax (est.)$1,083
Home insurance (est.)$150

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