4 Elm Street, Lancaster, NH 03584

• 18 baths

Property Description

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.

Listing Status:

Active

Date Added:

March 30, 2026

Data Last Updated:

April 4, 2026 at 7:00PM

Listing Office:

Rune Stone Realty : 603-608-3124

Listing Agent:

Nicole J Canavan : 603-566-7305 : nicole@runestonerealty.com

MLS ID:

5081330

Interior

• Basement: BulkheadConcrete FloorDirt FloorFullNo Tenant AccessExterior StairsInterior StairsUnfinishedExterior AccessBasement Stairs
• Flooring: HardwoodVinyl Plank
• A/C: None
• Heating: OilBaseboard

Exterior

• Style: Apartment Building
• Parking: AssignedOn-SiteParking Spaces 11 - 20Unpaved

Construction

• Roofing: FlatMembrane
• General: Wood FrameFieldstone

Location

• Road/Access: PavedPublic Maintained RoadPublic
• County: Coos

Lot

• Driveway: Gravel
• Zoning: C-COMM

Utilities

• Utilities: Cable AvailableTelephone Available
• Water: Public
• Sewer: Public