USACOMontroseOther147 E Main St
6 - 147 E Main St, Home with 0 bedrooms, 9 bathrooms and null parking in Montrose CO | Image 1
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$1,540,000

6 - 147 E Main St, Montrose, CO

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Commercial Sale
Size 7318 sqft
Garage No
Maintenance Fees 
Taxes $3,200
Days Active 1
Approx. Age 1960
Avg. Price Per Sqft $210
MLS® Number 827432

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® Number827432
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1960
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

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