10-26-19 Property of the Week

This week’s property is located at 290 W. Main St. in Conway. The list price is $200,000. (COURTESY PHOTO)

This investment property is located with high visibility at 290 W. Main St. in Conway, just seconds from Route 16 and Dunkin’ Donuts. It’s in an area that has recently seen business growth and development.

The property is comprised of two residential units and a commercial space that provide three sources of income. The mixture of residential units and the commercial unit, diversifies this investment.

The property is fully leased and has been for a significant period. Tenants pay for heat and electricity, so costs are fixed and easily determinable. Overhead is very reasonable. There is town water and sewer. The seller has successfully challenged the tax assessment, and he expects a significant reduction in the tax assessment to be reflected soon.

The seller has made many improvements recently, including improvements to the roof and new furnaces. There are many positive aspects to owning this property. Sellers have owned the property for a long time, but they have retired and are ready to pass the baton to the next investor.

The MLS number is 4780764.

The price of this property is $200,000.

The listing agent is Rich Johnson of Select Real Estate in Conway. He can be reached at (603) 447-3813, or at richjohnson@selectrealestate.com.

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