184 Elm StreetMontpelier, VT 05602MLS Number 4991351

  • Price: $1,450,000
  • Est. Mortgage of $/month
  • 40 Days on Market
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Federal 30-year interest rate: 6.94% last updated on May 23, 2024
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184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602184 Elm Street Montpelier VT 05602
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  • 0.28Acreage
  • 1850Year Built
  • 5,084Square Feet

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Listed by Ray Mikus of Green Light Real Estate
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.

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Tax Information

  • Tax Year2023

Building

  • Year Built1850
  • Units6
  • Unit 1 Bath2
  • Unit 1 Bedrooms2
  • Unit 1 Floor Location1
  • Unit 2 Bath1
  • Unit 2 Bedrooms2
  • Unit 2 Floor Location2
  • Unit 3 Bath1
  • Unit 3 Bedrooms2
  • Unit 3 Floor Location1 and 2
  • Unit 4 Bath1
  • Unit 4 Floor Location1
  • Unit 5 Baths1
  • Unit 5 Bedrooms1
  • Unit 6 Baths1
  • Unit 6 Bedrooms1
  • # of 1 Bedrooms3
  • # of 2 Bedrooms3
  • BasementBulkhead, Full, Unfinished
  • FoundationConcrete

Basic Information

  • StatusACT
  • List Price$1,450,000
  • Date Price Change04/15/2024
  • MLS Number4991351
  • MLS StatusActive

Property

  • Acreage0.28
  • Parking Spaces
  • Square Feet5,084
  • APX Fin AG Sqft5,084
  • Road Frontage70
  • RoadsPaved, Public

Utilities

  • Heat FuelElectric, Oil
  • Heat SystemHeat Pump, Steam, Mini Split
  • ElectricCircuit Breaker(s)
  • SewerPublic
  • UtilitiesCable - Available, DSL - Available

Location

  • TownMontpelier
  • StateVT
  • Zip05602
  • CountyWashington
  • ZoningMixed Use Res.
  • Elementary SchoolUnion Elementary School
  • Junior HighMain Street Middle School
  • High SchoolMontpelier High School
  • Flood Zone Y/NLand Only

Exterior

  • RoofShingle - Asphalt
  • Exterior ColorGray

Amenities

  • PricePerSqFt285.21

Other

  • Taxes$15,466.2
  • Seasonal Y/NNo
  • Date Listed04/15/2024
  • Unit 1 Deposit$2,100
  • Unit 2 Rent Amount$1,600
  • Unit 3 Rent Amount$1,900
  • Unit 4 Rent amount$1,600
  • Unit 5 Rent amount$1,700
  • View Count1
Dave Chenette | Chenette Real Estate
Dave Chenette | Chenette Real Estate
Office: 802-264-1991
30 Kimball Ave, Suite 201
South Burlington, VT 05403
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