184 Elm Street Montpelier, VT 05602
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyN/A
- Taxes$15,466
- HOA/Condo/Coop Fees$0
- Days on Site16 Days
- MLS StatusActive
- MLS ID Number4991351
- Home Size Source Assessor
- Year Built1850
- Lot Size0.28 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style New Englander
- Construction Wood Siding
- Parking DrivewayReserved
- Sewer Public Sewer
- Basement BulkheadFullUnfinished
- Number of Stories 2
- Acreage 0.28
- Water Public
- Attached Garage No
- Zoning Mixed Use Res.
Interior Features
- Cooling Mini SplitNone
- Heating ElectricOilHeat PumpSteamMini Split
Exterior Features
- Roof Asphalt
- Lot City LotLevelSidewalks
Community Features
- MLS Area VT-Washington