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7,318 SqFt
$ 1,499,000
Est. payment | /mo
7,318 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,318 sqft
Price per Sqft $204
MLS Listing ID 7803527
HOA Y/N No
Year Built 1960
Annual Tax Amount $3,622
Tax Year 2024
Property Sub-Type Multi Family
Source recolorado
Property Description
This is a 6 unit multi-family parcel, 2 stories w/ 2 decks + a rooftop patio.
Great rental History with short and long term.
7.46% CAP rate (w/all expenses except mngt) 177k++ of Gross income last year.
14 bedroom/10 bath, 5-6 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, 5 Apartments + a lock off,. Fully furnished
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.
1)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.
2)#18 Selig Av is a large studio
3) #26 Selig Av #A = 2br/1bath
4)#B 3br/2bath with very tall, vaulted ceiling
5) 2br/1b w/ vaulted ceiling
6) #D is a lockoff of C, its a 1br/1b separate alleyway entrance can be combined with C to make 3/2.
All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc )
Great rental History with short and long term.
7.46% CAP rate (w/all expenses except mngt) 177k++ of Gross income last year.
14 bedroom/10 bath, 5-6 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, 5 Apartments + a lock off,. Fully furnished
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.
1)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.
2)#18 Selig Av is a large studio
3) #26 Selig Av #A = 2br/1bath
4)#B 3br/2bath with very tall, vaulted ceiling
5) 2br/1b w/ vaulted ceiling
6) #D is a lockoff of C, its a 1br/1b separate alleyway entrance can be combined with C to make 3/2.
All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc )
Location
State CO
County Montrose
Interior
Fireplace N
Exterior
Roof Type Membrane
Total Parking Spaces 12
Garage No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Structure Type Concrete,Stone,Stucco
Others
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Telluride Realty LLC
Colorado Relocation Expert
8300 E Maplewood Ave #100, Greenwood Village, CO, 80111, USA