184 Elm Street
184 Elm Street
Montpelier, VT 05602
$1,450,000
Price
9
Beds
7
Baths
5,084 Sq. Ft.
$285 / Sq. Ft.
5,084
Sq. Ft.
$285
per Sq. Ft.
Virtual Tour
Virtual Tour
Description
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....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.
- Listed by Ray Mikus • Green Light Real Estate
Property Details for 184 Elm Street
Parking
Driveway, Reserved
ZoningMixed Use Res.
Location
Listing Courtesy of Green Light Real Estate
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LISTING UPDATED: 04/17/2024 03:14 PM
Property Details for 184 Elm Street
| Status | Active |
|---|---|
| MLS # | 4991351 |
| Days on Market | 37 |
| Taxes | $15,466 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 1850 |
| Lot Size | 0.28 AC / 12,196 SF |
| County | Washington County |
Location
Listing Courtesy of Green Light Real Estate
Add your commute
Virtual Tour
Building Information for 184 Elm Street
Stories2Residences6Year Built1850Building Size-Lot Size0.28 AC / 12,196 SF
Payment Calculator
$9,202 per month
30 year fixed, 7.25% Interest
Principal and Interest
$7,913
Property Taxes
$1,289
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 184 Elm Street
Summary
Location and General Information
- City: Montpelier
- County: VT-Washington
- Directions: Very easy to find, downtown Montpelier. GPS is all you need, not to be glib.
- Latitude: 44.264378208021078
- Longitude: -72.572024419643398
- Road Frontage: Yes
- Seasonal: No
- State: VT
- Street Designation: Street
- Zip Code: 05602
Taxes and HOA Information
- SPAN Number: 405-126-10847
- Tax - Gross Amount: $15,466.20
- Tax Year: 2023
- Taxes TBD: No
School Information
- School - High: Montpelier High School
- School - District: Montpelier School District
- School - Elementary: Union Elementary School
- School - Middle/Jr: Main Street Middle School
Parking
- Garage: No
- Driveway: Gravel
Virtual Tour
- Unbranded Tour URL 1: https://green-mountain-3d.aryeo.com/videos/018ed56c-584c-73c6-b113-333af9d86257
- Property Panorama Virtual Tour: https://tour.neren.com/184-Elm-Street-Montpelier-VT-05602/unbranded
- Unbranded Tour URL 2: https://my.matterport.com/show/?m=PrYBSmLbLdd&brand=0&mls=1&
Property
Lot Information
- Lot - Sqft: 12197.0
- Lot Features: City Lot, Level, Sidewalks
- Lot Size Acres: 0.28
- Road Frontage Length: 70.0
- Square Feet Apx Finished Above Grade: 5084.0
- Square Feet Apx Finished AG Source: Assessor
- Square Feet Apx Finished Below Grade: 0.0
- Square Feet Apx Total: 6084.0
- Square Feet Apx Total Finished: 5084.0
- Square Feet Apx Unfinished Above Grade: 0.0
- Square Feet Apx Unfinished Below Grade: 1000.0
- Square Feet Apx Unfinished BG Source: Estimated
Property and Assessments
- Property Class: Multi-Family
- Construction Status: Existing
- Easements: Yes
- Flood Zone: Land Only
- Foundation: Concrete
- PreConstruction: No
- Surveyed: Unknown
- Year Built: 1850
Utilities
- Electric Company: GMP
- Cable Company: Comcast
- Electric: Circuit Breaker(s)
- Sewer: Public
- Water Source: Public
- Utilities: Cable - Available, DSL - Available
- Separate Utilities: Yes
- Internet: High Speed Intrnt -Avail
Interior and Exterior Features
Exterior Features
- Color: Gray
- Construction Materials: Wood Frame, Wood Siding
- Roads: Paved, Public
- Roof: Shingle - Asphalt
Interior Features
- Basement: Yes
- Basement Access Type: Walkout
- Basement Description: Bulkhead, Full, Unfinished
- Heat Fuel: Electric, Oil
- Heating: Heat Pump, Steam, Mini Split
- Cooling: None, Mini Split
- Total Stories: 2
Multi Family
Income & Expenses Information
- Gross Income: $127,200.00
- Net Income: $87,444.00
- Operating Expense Incl: Insurance, Maintenance, Other, Sewer, Snow Removal, Trash, Utilities, Water/Sewer
- Operating Expense: $40,222
Multi-Family Information
- Total Units: 6
- Total 1 BR Units: 3
- Total 2 BR Units: 3
- Total 3+ BR Units: 0
Unit Information
Unit 1
- Unit 1 Baths: 2
- Unit 1 Bedrooms: 2
- Unit 1 Lease Term: Annual
- Unit 1 Level Number: 1
- Unit 1 Rental Amt Freq: Monthly
- Unit 1 Status: Leased
- Unit 1 Rental Amount: $2,100.00
- Unit 1 Tenant Pays: Electric, Heat, Hot Water, Trash
Unit 2
- Unit 2 Lease Term: Annual
- Unit 2 Baths: 1
- Unit 2 Status: Leased
- Unit 2 Level Number: 2
- Unit 2 Rental Amt Freq: Monthly
- Unit 2 Bedrooms: 2
- Unit 2 Rental Amount: $1,600.00
- Unit 2 Tenant Pays: Electric, Heat, Hot Water, Trash
Unit 3
- Unit 3 Lease Term: Annual
- Unit 3 Baths: 1
- Unit 3 Level Number: 1 and 2
- Unit 3 Rental Amt Freq: Monthly
- Unit 3 Status: Leased
- Unit 3 Bedrooms: 2
- Unit 3 Rental Amount: $1,900.00
- Unit 3 Tenant Pays: Electric, Heat, Hot Water, Trash
Unit 4
- Unit 4 Lease Term: Annual
- Unit 4 Level Number: 1
- Unit 4 Rental Amt Freq: Monthly
- Unit 4 Baths: 1
- Unit 4 Bedrooms: 1
- Unit 4 Status: Leased
- Unit 4 Rental Amount: $1,600.00
- Unit 4 Tenant Pays: Electric, Heat, Hot Water, Trash
Unit 5
- Unit 5 Rental Agreement: Yes
- Unit 5 Level Number: 1
- Unit 5 Rental Amt Freq: Monthly
- Unit 5 Status: Leased
- Unit 5 Baths: 1
- Unit 5 Bedrooms: 1
- Unit 5 Lease Term: Annual
- Unit 5 Rental Amount: $1,700.00
- Unit 5 Tenant Pays: Electric, Hot Water, Trash
Unit 6
- Unit 6 Rental Agreement: Yes
- Unit 6 Lease Term: Annual
- Unit 6 Level Number: 2
- Unit 6 Baths: 1
- Unit 6 Bedrooms: 1
- Unit 6 Rental Amt Freq: Monthly
- Unit 6 Status: Leased
- Unit 6 Rental Amount: $1,700.00
- Unit 6 Tenant Pays: Electric, Hot Water, Trash
Rental
Rent Information
- Total Leases: 6
Property History for 184 Elm Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 184 Elm Street
Taxable ValueLand$55,400Additions$410,100Total$465,500
Tax Record2021$14,384 ($1,199 / month)
Home Facts
Total Finished SqFt3,980 SqFtAbove Grade Finished SqFt3,980 SqFtUnfinished Basement SqFt1,446 SqFtStories2Lot Size12,197 SqFtStyleMulti-Family Res (5+ Units)Year Built1850CountyWASHINGTONAPN(126) 043186000
Schools near 184 Elm Street
This home is within Montpelier Roxbury Unified Union School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 4 | |||
| Public - | PK to 4 | |||
| Public - | 5 to 8 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Union Elementary School PublicPK to 4 | ||
Roxbury Village School PublicPK to 4 | ||
Main Street School Public5 to 8 | ||
Montpelier High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Green Light Real Estate
Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 05/21/2024 12:20 AM
