120 Emerald Street
- Rare Scale & Modern Construction
- Flexible Dual Strategy
- Built-In Demand Driver
- Walkable Downtown Location
- Regional Employment Hub
- Value-Add Opportunity
Property Description
Northeast Private Client Group, Inc. is pleased to present Arcadia Apartments, a 38-apartment, 140-bed residential community at 120 Emerald Street in downtown Keene, New Hampshire — a four-story brick building two blocks from Central Square and within walking distance of the Keene State College campus. Keene is the seat of Cheshire County and the commercial hub of the Monadnock Region. Completed in 2012, Arcadia is laid out as three- and four-bedroom apartments, all with two full baths. Two passenger elevators serve the four floors, and the building carries a full wet-sprinkler system. Gas and electric are separately metered to every unit. Current ownership operates the property as furnished by-the-bed rentals, serving steady student and young-professional demand, and in-place rents sit well below the marks already achieved on beds. There is a clear path to leasing as traditional multifamily apartments serving a potentially broader tenant base with significantly less overhead. The property offers a flexible value-add strategy between these two paths, or possibly a hybrid approach. Arcadia Apartments combines 2012 construction, a proven rent gap, and a walkable downtown address anchored by the Monadnock Region's largest institutions, from Keene State College to Cheshire Medical Center. Please reach out to the deal contacts for more information.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 38 |
| Year Built: | 2012 |
| Lot Size: | 0.90 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
365 Ocean Boulevard
Hampton, New Hampshire
5 Units in Turner Falls MA
73-77 4th Street Turner Falls, Massachusetts
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout