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Listed by Hannah Dawson of Green Light Real Estate

Yes, you're reading that right, 8 units in Montpelier all under one (new 2018) roof! Right on the North Branch River (but not in the flood zone) and a stone's throw from town, this location means one thing, EASY to rent. But don't take my word for it, look at the facts. This 8-unit cash cow has a history of nearly 0% vacancy over the last fifteen years and annual rentals totaling over $85,000. If you've been looking for a good investment opportunity, here it is! It doesn't get much better than this. So you can keep track, there are two 2-bedroom units, three 1-bedroom units, two studios and an efficiency. Recent comparable sales: 156 Elm Street (4 Unit; Sold at 6.09% Cap Rate). 59 College Street (3 Unit; Sold at 5.6% Cap Rate). Many units due for a rent increase, which would easily push the Cap Rate above 7%. Factor in appreciation and reduction in principal overtime and you'll enjoy a substantial and stable return. Can be purchased as part of a portfolio with 108 East State Street MLS#: 4755809/4755857. List Agent is related to sellers.

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Copyright 2019 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. 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 December 15, 2019.

 

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