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4 Elm St 18 Unit Apartment Building $1,952,300 CAD ($108,461 CAD/Unit) 7.06% Cap Rate Lancaster, NH 03584
Investment Highlights
- New Boiler Being Installed May 2026
- Strong rental history with many long term tenants
- Numerous upgrades and updates in past 5 years including roof, oil tanks, apartment refreshes, and more
- Located in the heart of downtown Lancaster near major employers
Executive Summary
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
* 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.
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
* 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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,952,300 CAD | Building Class | C |
| Price Per Unit | $108,461 CAD | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 11,737 SF |
| Cap Rate | 7.06% | Average Occupancy | 93% |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | Commercial | ||
| Price | $1,952,300 CAD |
| Price Per Unit | $108,461 CAD |
| Sale Type | Investment |
| Cap Rate | 7.06% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 11,737 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 1910 |
| Parking Ratio | 1.53/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Hardwood Floors
- Refrigerator
- Sprinkler System
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | LNCS-000010P-000000-000001 | Total Assessment | $1,152,714 CAD |
| Land Assessment | $163,380 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $989,334 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
LNCS-000010P-000000-000001
Land Assessment
$163,380 CAD
Improvements Assessment
$989,334 CAD
Total Assessment
$1,152,714 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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4 Elm St
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