List Price: $795,000 | $169 per sq.ft. Multi Family A 7 Unit Multi Family Home
With 5 One Bedroom Units , 2 - Two Bedroom Units ,0 - Three Bedroom Units Listed Wednesday Nov 20, 2024 | MLS# 5022765


Well maintained 7 Unit building in sought after "Meadows" neighborhood between downtown and Hubbard park. 9% cap rate with room for increases in rents makes this an attractive investment. Tenants pay heat and electricity. Entirely updated electrical and recent updates make this a low maintenance solid investment. Super easy to rent these great units with quick walk to downtown and Hubbard park, yet tucked away on a quiet street. Owner went through and updated each apartment in the building as they became available over the past 14 years. Every piece of electrical replaced in that period and most of the plumbing. Extra time and care was given to updates with an eye towards quality, low maintenance and longevity. Enormous parking area gives the tenants much sought after off street parking. More than 1 unblocked parking spot per bedroom with a back yard and front yard. All the roofs other than the very upper roof have been replaced. Insulation and weatherization have been improved throughout. Pride of ownership is evident throughout this multi family. Seller is also the listing agent, a licensed real estate agent in the state of Vermont. Extremely limited assisted showing windows available. Showings 1pm to 3pm on Friday 11/22 and Monday 11/25 12pm to 2pm. More showings may happen 1st week of December. Property is smoke free, and mostly pet free. No cats or dogs. Super low maintenance yet attractive siding. Make an appointment as this one won't last. Operating Expenses : Insurance,Snow Removal,Trash,Utilities,Water/Sewer
Annual Expenses

Taxes: $14,835
Income
Gross Income | $93,000
NetIncome | $72,195

UNIT 1

Beds: 1
Baths: 1
Rooms: 3
Level: 1
Tenant Pays : Electric,Heat
Rent : 970.00 Monthly
Signed Lease : Yes
Status : Month to Month

UNIT 2

Beds: 1
Baths: 1
Rooms: 3
Level: 1&2
Tenant Pays : Electric,Heat
Rent : 1130.00 Monthly
Lease Term : Month to Month
Signed Lease : Yes
Status : Leased

UNIT 3

Beds: 2
Baths: 1
Rooms: 4
Level: 1
Tenant Pays : Electric,Heat
Rent : 1225.00 Monthly
Status : Leased

UNIT 4

Beds: 1
Baths: 1
Rooms: 5
Level: 1
Tenant Pays : Electric,Heat
Rent : 1075.00 Monthly
Lease Term : Annual
Status : Leased

UNIT 5

Beds: 1
Baths: 1
Rooms: 4
Level: 2
Tenant Pays : Electric,Heat
Rent : 975.00 Monthly
Signed Lease : Yes

UNIT 6

Beds: 1
Baths: 1
Rooms: 5
Level: 2
Tenant Pays : Electric,Heat
Rent : 990.00 Monthly
Signed Lease : Yes

UNIT 7

Beds: 2
Baths: 1
Level: 3
Tenant Pays : Electric,Heat
Rent : 1385.00 Monthly
Construction: Wood Frame
Year Built: 1878
Style: Apartment Building
Floors | Stories: 3
No. Elevators:
Total Sq.Ft. Finished: 5980
Above Grade Sq.Ft.: 4700
Basement: Concrete Floor | Unfinished
Foundation: Fieldstone
Roof: Corrugated | Membrane | Shingle - Asphalt
Seasonal: No
Heating: Propane | Baseboard | Forced Air | Gas Heater | Wall Furnace
Cooling: None
Electric: Circuit Breaker(s)
Utilities: Cable | Gas - LP/Bottle | Multi Phone Lines | Telephone Available
Electric Meters:
Water: Public
Sewer: Public
Land Information
City Lot | Level | Rental Complex | Sidewalks | In Town | Near Paths | Neighborhood | Near School(s)
Lot size: 0.25 acres
Zoned: Residential 3000)
Surveyed: Yes
SurveyedBy: Sunwise Surveyi
Flood Zone: Land Onl
Road Frontage: 50
Driveway: Gravel


Easement - No
Taxes $14,835
Assesed Value Not Reported
Schools
School District: Montpelier School District
Elementary School: Union Elementary School
Middle School: Main Street Middle School
High School: Montpelier High School

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