184 Elm Street , Montpelier, VT 05602
Montpelier, VT 05602
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.
Details
| MLS# | 4991351 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1850 |
| Days On Site | 146 |
| Listing Provided By | Green Light Real Estate | Ray Mikus |
Features
| SQ Feet | 5,084 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Zoning | Mixed Use Res. |
Market Activity 05602
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Learn More About This Property
| State | VT |
|---|---|
| County | VT Washington |
| City | Montpelier |
| Zip Code | 05602 |
| Area | Washington |
| School District | Montpelier School District |
| Elementary School | Union Elementary School |
| Middle School | Main Street Middle School |
| High School | Montpelier High School |
| Listing VS Median (in 05602) | |
Price: $1,450,000 low | high Med: $412,000 SqFt: 5,084 low | high Med: 1,860 $ / SqFt: $285 low | high Med: $222 On Site: 146 low | high Med: 38.000000 | |