51 Ash Street, Manchester, NH 03104

• 12,410 sqft

Property Description

51 Ash Street consists of nine (9) one-bedroom apartments, including six (6) spacious four-room units and three (3) three-room one-bedroom units. The generous footprint of the four-room apartments creates meaningful flexibility for ownership: these units can be repositioned as two-bedroom apartments to capture additional rental income or maintained as oversized one-bedroom homes that stand apart from competing product in the submarket. Recent improvements include new vinyl siding, new windows, new electrical panels and new decks and porches, reducing near-term capital exposure for a new owner. The property is currently served by a central oil-fired forced hot water heating system and can be converted to natural gas—offering a clear path to significant heating cost savings and improved net operating income. Additional upside exists in the open area at the rear of the building, which presents the possibility of adding on-site parking, a premium amenity in this walkable, parking-constrained neighborhood. The asset is offered at an asking price of $1,440,000 ($160,000/unit), which equates to a going-in Cap Rate of 6.5% and a pro-forma cap of 8.10%. The combination of an irreplaceable location, multiple value-add levers, and Manchester’s strong rental fundamentals makes 51 Ash Street a compelling acquisition for investors seeking in place income with significant future upside.

Listing Status:

Active

Date Added:

July 20, 2026

Data Last Updated:

July 30, 2026 at 2:00AM

Listing Office:

Clements Realty Group Inc. : 781-595-9600

Listing Agent:

Benjamin Davis : 617-276-2194 : ben@northshorerealtyadvisors.com

MLS ID:

5100705

Interior

• Basement: BulkheadBasement Stairs
• A/C: None
• Heating: OilBoiler

Exterior

• Style: Multi-Family

Construction

• Roofing: Tar and Gravel
• General: Wood FrameGranite

Location

• Road/Access: None
• County: Hillsborou

Lot

• Driveway: Other
• Zoning: MX-2 Mixed Use General

Utilities

• Utilities: None
• Water: Public Water On-Site
• Sewer: Public Sewer On-Site