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Listing 3 out of 4
$649,000 For Sale

235 Elm Street
Montpelier, VT 05602

8 units | Multi Family Home
6970 sq ft lot - MLS# 4755808 Courtesy of Green Light Real Estate, Hannah Dawson
Property Photo
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Description

Yes, you're reading that right, 8 units in Montpelier all under one (new 2018) roof! Right on the North Branch River (but not in the flood zone) and a stone's throw from town, this location means one thing, EASY to rent. But don't take my word for it, look at the facts. This 8-unit cash cow has a history of nearly 0% vacancy over the last fifteen years and annual rentals totaling over $85,000. If you've been looking for a good investment opportunity, here it is! It doesn't get much better than this. So you can keep track, there are two 2-bedroom units, three 1-bedroom units, two studios and an efficiency. Recent comparable sales: 156 Elm Street (4 Unit; Sold at 6.09% Cap Rate). 59 College Street (3 Unit; Sold at 5.6% Cap Rate). At $649,000 asking price this property is a 6.8% Cap Rate. Many units due for a rent increase, which would easily push the Cap Rate above 7%. Factor in appreciation and reduction in principal overtime and you'll enjoy a substantial and stable return. Can be purchased as part of a portfolio with 106 and 108 East State Street MLS#: 4755809/4755857. List Agent is related to sellers.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi-Family
  • Listing Status: Active
  • County/Area: Washington County
  • Zip Code: 05602
  • Year Built: 1910
  • School District: Montpelier School District
  • Elementary School: Union Elementary School
  • Middle School: Main Street Middle School
  • High School: Montpelier High School
  • Sq.Ft.: 4,624 sq ft
  • Style: Multi-Family, New Englander
  • Stories: 3
  • Units: 8 units
  • Basement: Concrete Floor, Full, Stairs - Exterior, Storage Space, Unfinished, Walk-Up, Yes
  • Lot Size: 6970 sq ft lot
  • Zoning: Historic
  • Color: Off White
  • Construction: Wood Frame
  • Construction Status: Existing
  • Delayed Showing: No
  • Driveway: Crushed Stone, Dirt
  • Electric: Circuit Breaker(S)
  • Electric Company: Gmp
  • Expense - Utility: 6076
  • Expenses - Heat: 5714
  • Expenses - Insurance: 4233
  • Expenses - Maintenance: 4278
  • Expenses - Miscellaneous: 4278
  • Expenses - Taxes: 10580
  • Expenses - Trash: 2244
  • Expenses - Water: 2816
  • Exterior: Aluminum
  • Features - Exterior: Balcony, Porch - Covered
  • Flooring: Carpet, Combination, Hardwood
  • Foundation: Concrete, Stone
  • Fuel Company: Irving
  • Gross Income: 85182
  • Heat Fuel: Oil
  • Heating: Radiator, Steam
  • Lot - Sqft: 6970
  • Lot Description: City Lot, Curbing, Level, River, River Frontage, Sidewalks, Street Lights
  • Parking: Assigned, On Street, Parking Spaces 5 - 10, Parking Spaces 6+
  • Road Frontage: Yes
  • Road Frontage Size: 100
  • Roads: Paved, Public
  • Roof: Shingle - Asphalt
  • Sewer: Public Sewer On-Site
  • Sqft-Apx Fin Above Grade: 4624
  • Sqft-Apx Total: 6004
  • Sqft-Apx Unfn Below Grade: 1380
  • Tax - Gross Amount: 10582
  • Tax Year: 2018
  • Total 1 Br Units: 3
  • Total 2 Br Units: 2
  • Unit 1 Baths: 1
  • Unit 1 Bedrooms: 1
  • Unit 1 Info: Appliances Included, Heat - Oil, Heat Included, Porch, Range - Electric, Range - Gas, Refrigerator, Smoke Detector, Water Heater
  • Unit 2 Baths: 1
  • Unit 2 Bedrooms: 1
  • Unit 2 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 3 Baths: 1
  • Unit 3 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 4 Baths: 1
  • Unit 4 Bedrooms: 2
  • Unit 4 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 5 Baths: 1
  • Unit 5 Bedrooms: 2
  • Unit 5 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 6 Baths: 1
  • Unit 6 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 7 Baths: 1
  • Unit 7 Bedrooms: 2
  • Unit 7 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Unit 8 Baths: 1
  • Unit 8 Info: Appliances Included, Heat - Oil, Heat Included, Smoke Detector
  • Water: Public Water - At Street, Public Water - On-Site
  • Water Heater: Oil, Owned
Courtesy of Green Light Real Estate, Hannah Dawson

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Trombley & Day Group

Dody Day & Denise Trombley

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 Denise- 802-793-6584  Dody- 802-760-8333

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5 Park Street, Suite 1, PO Box 1585 Morrisville VT 05661

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Trombley & Day Group | Century 21 Jack Associates  | Denise: 802-793-6584 | Dody: 802-760-8333  Email Us
5 Park Street PO Box 1585 Morrisville, VT 05661

 

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