65 Pleasant St, Claremont, NH 03743

Current Cap rate 8.75% With increasing rents to area averages and the addition of a store front tenant, rental income could easily increase 50% and make a cap rate of 15%. This would still leave the 4th floor open to additional units for even more rental increases. 10 residential apartment units fully occupied. Store Front under renovation by tenant for future lease. Sprinkler system installed on 4 of 5 floors. 4th floor is approximately 3000 square feet of empty space with no walls, and could be renovated to add more units. Sprinkler system will need to be completed on 4th floor. All other floors are completed or part of store front renovation. Electric is a mix of fuses and breakers. Roof needs work. Aside from the listed maintenance and repairs listed above, the units are in good shape and occupied. The building makes money as is and has plenty of room for increased rental income. Apartments are rented below average cost and the fourth floor is completely open for the addition of more apartments.