184 Elm St, Montpelier, VT 05602 Homes for Sale

For Sale

$1,450,000

• 9 beds
• 7 baths
• 5084 Sq Ft

184 Elm Street,
Montpelier, VT, 05602

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Overview

Listing Status Active

MLS 4991351

Property Type

Other

Year built

1850

Total rooms

9

Lot size

0.28 Acres

Time on NeighborWho

32 days

Stories

-

Price per Sq Ft

$285

Parking

0e0 car garage

Basement

-

About 184 Elm Street, Montpelier, VT

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. Read more

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