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$1,540,750
147 - 147 E Main St, Montrose, CO
Real Estate
For Sale
$--,---,---
090
- Key Facts
- Description
- Map
Key Facts
Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $3,100
Days Active 1
Lot Size
Approx. Age 1960
MLS® Number 827434
Property Address:
Average square foot calculated using Size range provided by listing agent.
Description
This is a 6 unit multi family parcel, 2 stories with 2 decks and a rooftop patio. Great rental History with short and long term. 8.19 CAP rate (w/all expenses except mngt) 126k++ of Net NOI 2024 /177k Gross 14 bedroom/10 bath, 6 Unit Income producing Multi-Family on Main St, Montrose. Corner lot, all in one building, w/ multiple uses, near Telluride. **long term /normal MF income would be ~11, 000+ a month if long vs STR = $133, 000 with less management/expenses. Over 7, 300+ feet plus 2 covered decks, 6 Total Apartments, fully furnished with great rental history and many repeat visitors. Since its zoned B-1, you are at a massive advantage if rules come down the line as they have in other towns. No residential neighbors to complain STR are affecting neighborhood. Great walking location, right downtown with coffee/grocery/bars /distillery /CO-working /food trucks all within 2 blocks. If you long termed it, Tenants can pay electric (5 meters) + (2 gas meters). Owner would still pay sewer/water/trash. 5 extra storage units for the rentals also, (3 inside lobby, 2 outside). Recently restored and upgraded with 90% new plumbing and 90% new wiring, 5 new electric meters and 2 units are gas metered. Many new windows, 90%+ new flooring, stylish stone, barnwood and granite. Stainless appliances and high ceilings in most units. Building wide master Fiber WIFI for future additional income. Major $600, 000 Remodel in 2017-19 and also permitted upgrades in 2021. City parking in multiple locations nearby and adjacent. The front unit is 147 main st, a huge 3000 sq feet up and down unit with 5 bedrooms and 4 baths), (2 master ensuites upstairs with decks and rooftop patio. #18 Selig Av is a large studio #26 Selig Av: A) 2br/1bath B) 3br/2bath with very tall, vaulted ceiling C) 2br/1b with vaulted ceiling D) 1br/1b separate alleyway entrance can be combined with C to make 3/2. Some ways to increase revenue, (roof top amenities, hot tub, bike racks, grills and more amenities. Add some lofts in B or C as the ceiling is so tall? Low vacancy (as an example out of July, only 3 empty nights out of a possible 180 =.5% (half of 1 percent) ***Sold fully furnished minus some PP some art. ***8%+ CAP rate based on list price and NOI 24' ***Full monitored fire suppression system (code compliant!) *** Low taxes of only 3, 400 a year! *** NO HOA, street access on 3 sides. *** ROOF access is easy and can be upgraded for amenities. All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc ) ***OZ fund avail due to location in the OZ.Show Description
MLS® Number827434
Laundry Level
Central VacNo
FireplaceNo
Acreage0.14
Exterior
GarageNo
Approx. Age1960
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel
Extras
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