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Listed by Steve Cotran of RE/MAX Area Real Estate Network LTD
An exciting investment opportunity. Located just minutes from I-93 Exit 2 in a low-density single-family neighborhood, this well-maintained 9-unit apartment building sits on a spacious 1.8-acre lot and is connected to city sewer. The property boasts a large and inviting backyard, ample paved parking, and extra land, all within a short walk of Canobie Lake, which offers seasonal views from the third floor. The building is currently occupied and stabilized, presenting an immediate income stream. Six of the apartments have been recently and completely renovated, featuring modern kitchens with granite countertops and stainless steel appliances, updated bathrooms, refinished or new hardwood flooring, energy-efficient LED lighting, and new decks, sliding doors, and windows. Each unit is separately metered for heat and electricity and the property currently yields a strong 8% capitalization rate. The property also features a large U-shaped driveway providing ease of access and plenty of parking for tenants. Unit 9 is a particularly attractive freshly renovated two-bedroom townhome-style unit with sliding doors leading to a private rear deck, along with a new kitchen, bathroom, appliances, and refinished wood flooring. Please note that the principals of the selling entity are licensed real estate agents.

More Info

Tax Information

  • Tax Year2024

Building

  • Year Built1880
  • Building ConstructionWood Frame, Vinyl Exterior
  • StyleApartment Building
  • Units9
  • Unit 1 Bath1
  • Unit 1 Bedrooms1
  • Unit 1 Floor Location1
  • Unit 1 Total Rooms3
  • Unit 2 Bath1
  • Unit 2 Bedrooms1
  • Unit 2 Floor Location1
  • Unit 2 Total Rooms3
  • Unit 3 Bath1
  • Unit 3 Bedrooms2
  • Unit 3 Floor Location2
  • Unit 3 Stylegarden
  • Unit 3 Total Rooms4
  • Unit 4 Bath1
  • Unit 4 Floor Location3
  • Unit 4 Total Rooms2
  • Unit 5 Baths1
  • Unit 5 Bedrooms1
  • Unit 6 Baths1
  • Unit 6 Bedrooms2
  • Unit 7 Baths1
  • # of 1 Bedrooms4
  • Unit 7 Bedrooms1
  • # of 2 Bedrooms4
  • Unit 8 Baths2
  • # of 3+ Bedrooms1
  • Unit 8 Bedrooms3
  • Bathroom9
  • Total Baths9
  • BasementDirt
  • FoundationConcrete, Granite

Basic Information

  • Virtual TourView Tour
  • StatusACT
  • List Price$2,361,000
  • Date Price Change12/05/2025
  • MLS Number5038205
  • MLS StatusActive

Interior

  • FloorsCarpet, Hardwood, Laminate, Vinyl Plank

Exterior

  • RoofFlat

Utilities

  • Heat SystemHot Water
  • WaterPrivate
  • Water HeaterGas Water Heater, Owned Water Heater, Propane Water Heater, Water Heater off Boiler
  • ElectricCircuit Breaker(s)
  • SewerPublic
  • UtilitiesCable Available

Water Body

  • Water Body TypeLake
  • Water Body NameCanobie Lake
  • Water AccessNo
  • Water ViewYes

Location

  • TownSalem
  • StateNH
  • Zip03079
  • CountyRockingham
  • ZoningAPT 8+Up MDL-01
  • Address3 S Shore Road
  • Flood Zone Y/NNo

Property

  • Acreage1
  • GarageNo
  • Parking Spaces
  • Lot DescriptionLevel
  • Lot4433
  • Square Feet7,674
  • APX Fin AG Sqft7,674
  • Road Frontage396
  • RoadsPublic Maintained Road
  • AreaNH-Rockingham

Amenities

  • Exterior AmenitiesBalcony, Deck
  • PricePerSqFt307.66

Other

  • Taxes$13,283
  • Seasonal Y/NNo
  • Operating Expenses25000
  • Date Listed04/28/2025
  • Unit 1 Deposit$1,995
  • Unit 2 Rent Amount$1,925
  • Unit 3 Rent Amount$2,195
  • Unit 4 Rent amount$1,500
  • Unit 5 Rent amount$1,695
  • Unit 7 Rent amount$1,925
  • Unit 8 Rent amount$2,800
  • View Count14

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Copyright 2025 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated December 9, 2025 2:22 AM EST

 

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