List Price: $1,450,000 | $285 per sq.ft. Multi Family A 6 Unit Multi Family Home
With 3 One Bedroom Units , 3 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Monday Apr 15, 2024 | MLS# 4991351
With 3 One Bedroom Units , 3 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Monday Apr 15, 2024 | MLS# 4991351
Unit 1
Unit 1
Unit 1
Unit 1
Unit 1 Bdrm 2
Unit 2
Unit 2
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Unit 2
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Unit 3 Entry
Unit 3
Unit 3
Unit 3
Unit 3
Unit 3
Unit 3
Unit 4 Entry
Unit 4
Unit 4
Unit 4
Unit 4
Unit 5 Entry
Unit 5
Unit 5
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Unit 6 Entry
Unit 6
Unit 6
Unit 6
Unit 6
To see this Listing
Address: 184 Elm Street Montpelier VT
Listed by Ray Mikus Green Light Real Estate
Description:
Turn key, stabilized, fully leased, renovated and well-maintained six unit apartment building for sale in downtown Montpelier. Three 2-bedroom units, and three 1-bedroom units, all with laundry and hardwood floors. Units have been renovated with granite countertops, stainless appliances, renovated bathrooms, floors, paint, and much more. Units 1 and 2 share the front porch, and have a shared laundry. Units 3 and 4 enter from the side, and units 5 and 6 are newly built in a converted carriage barn. Strong rental history. Tenants pay their own utilities. Units 1-4 heat with an oil furnace and Units 5-6 have heat pumps and mini-splits. NOI $87,000 makes this a solid 6% cap rate for a high quality building. Assigned off street parking for each unit. Nice backyard as well, for tenants to enjoy. Barn is part of this property as well, and has areas clearly marked off for tenants to use as storage. **Please note that the structure did NOT flood in July 2023. Land is in the 1% flood hazard zone, but LOMA is in place attesting that the building is outside of the flood zone.** Incredibly convenient to downtown Montpelier's restaurants and shopping. 48 hours notice for showings please, no exceptions. Operating Expenses : Insurance,Maintenance,Other,Sewer,Snow Removal,Trash,Utilities,Water/Sewer
Annual Expenses
Taxes: $16,934
Taxes: $16,934
Income
Gross Income | $127,350
NetIncome | $87,594
Gross Income | $127,350
NetIncome | $87,594
UNIT 1 INFORMATION
Beds: 2
Baths: 2
Rooms: 0
Level: 1
Tenant Pays : Electric,Heat,Hot Water,Trash
Rent : 2100.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 2 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Level: 2
Tenant Pays : Electric,Heat,Hot Water,Trash
Rent : 1650.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 3 INFORMATION
Beds: 2
Baths: 1
Level: 1 and 2
Tenant Pays : Electric,Heat,Hot Water,Trash
Rent : 1900.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
UNIT 4 INFORMATION
Beds: 1
Baths: 1
Level: 1
Tenant Pays : Electric,Heat,Hot Water,Trash
Rent : 1650.00 Monthly
Lease Term : Annual
Status : Leased
UNIT 5 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Level: 1
Tenant Pays : Electric,Hot Water,Trash
Rent : 1700.00 Monthly
Lease Term : Annual
Signed Lease : Yes
UNIT 6 INFORMATION
Beds: 1
Baths: 1
Level: 2
Tenant Pays : Electric,Hot Water,Trash
Rent : 1750.00 Monthly
Lease Term : Annual
Signed Lease : Yes
Status : Leased
Construction: Wood Frame | Wood Siding
Year Built: 1850
Style: New Englander
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6084
Above Grade Sq.Ft.: 5084
Basement: Bulkhead | Full | Unfinished
Foundation: Concrete
Year Built: 1850
Style: New Englander
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6084
Above Grade Sq.Ft.: 5084
Basement: Bulkhead | Full | Unfinished
Foundation: Concrete
Exterior Color: Gray
Roof: Shingle - Asphalt
Garage And Parking: Driveway | Reserved
Seasonal: No
Roof: Shingle - Asphalt
Garage And Parking: Driveway | Reserved
Seasonal: No
Heating: Oil | Electric | Heat Pump | Steam | Mini Split
Cooling: None | Mini Split
Electric: Circuit Breaker(s)
Utilities: Cable - Available
Electric Meters:
Water: Public
Sewer: Public
Cooling: None | Mini Split
Electric: Circuit Breaker(s)
Utilities: Cable - Available
Electric Meters:
Water: Public
Sewer: Public
Land Information
City Lot | Level | Sidewalks
Lot size: 0.28 acres
Zoned: Mixed Use Res.)
Surveyed: Unk
Flood Zone: Land Onl
Roads: Paved | Public
Road Frontage: 70
Driveway: Gravel
City Lot | Level | Sidewalks
Lot size: 0.28 acres
Zoned: Mixed Use Res.)
Surveyed: Unk
Flood Zone: Land Onl
Roads: Paved | Public
Road Frontage: 70
Driveway: Gravel
Additional Information
Easement - Yes
Taxes $16,934
Assesed Value Not Reported
Easement - Yes
Taxes $16,934
Assesed Value Not Reported
Schools
School District: Montpelier School District
Elementary School: Union Elementary School
Middle School: Main Street Middle School
High School: Montpelier High School
School District: Montpelier School District
Elementary School: Union Elementary School
Middle School: Main Street Middle School
High School: Montpelier High School
