Conway, NH850 White Mountain Highway
Price$2,200,000
Est. Mortgage: $/month
MLS Number 4940822
- Multifamily
- Village North Conway
- Units 21
- Bathroom 21
- Acreage 3.1
Welcome to this White Mountain gem. A unique 21-door, multi-unit hospitality property located on Route 16 in North Conway, NH. Situated on the gateway between Conway and North Conway, The Hitching Post Inn & Cottages (now known as simply “The Hitching Post”) is a long-term staple of the community, having been in operation since the late 1950s. The property is 3.1 acres and consists of 13 motel-style units, 7 individual cabins, an in-ground swimming pool, and a single-family house that doubles as an on-site office and provides vending and laundry amenities to residents. Under the current ownership, the property has operated as an extended-stay motel with the average resident staying over 18 months. Occupants pay weekly rent that includes heat, hot water, electric, water, sewer and high-speed internet. Many of the units have been painstakingly remodeled and almost all of the major capital improvements have been addressed over the last few years. This property still boasts several opportunities for additional value-add but has a 9%+ cap rate as it's currently operated. At present, the single-family home is for personal or employee use only, but with some renovations to bring this building up to modern code, this spacious 3 bedroom/3 bathroom house could also be rented, generating significant additional income. Additional cabins could be added to the property, further increasing the potential income that could be generated. Do not disturb occupants. Showings by appointment only.
Listed by Matthew Lefebvre of Downtown Realty
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