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235 Elm, Montpelier, VT 05602

4 Bed, 4 Bath Multi-Family Home For Sale

235 Elm, Montpelier, VT 05602 House For Sale - MLS #4755808
$649,000
4
4
Multi-Family
5+ Family
8
This listing is courtesy of Hannah Dawson from Green Light Real Estate

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Property Description for 235 Elm, Montpelier, VT 05602

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.

Interior Details

4,624 sq. ft.
$140.35/sq. ft.
Public Sewer On-Site
Public Water - At Street; Public Water - On-Site

Exterior Details

0.16 acres
6,970 sq. ft.
3
Assigned; On Street; Parking Spaces 5 - 10; Parking Spaces 6+
Wood Frame
Concrete; Stone

Other Details

4755808
1910

Units Description

Unit #1
Bedrooms: 1      Full / Half Baths: 1     
Interior Features : Appliances Included; Heat - Oil; Heat Included; Porch; Range - Electric; Range - Gas; Refrigerator; Smoke Detector; Water Heater

Unit #2
Bedrooms: 1      Full / Half Baths: 1     
Interior Features : Appliances Included; Heat - Oil; Heat Included; Smoke Detector

Unit #3
Full / Half Baths: 1     
Interior Features : Appliances Included; Heat - Oil; Heat Included; Smoke Detector

Unit #4
Bedrooms: 2      Full / Half Baths: 1     
Interior Features: Appliances Included; Heat - Oil; Heat Included; Smoke Detector

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Monthly Mortgage Payments

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