Renovated Six-Unit Apartment
For Sale
Contact for pricing
Pending
184 Elm St, Montpelier, VT 05602
Fully leased, renovated apartment building in downtown Montpelier.
Property SizeContact for details
Days on Market140
Property Features for 184 Elm St
General Information
Standard status
Pending
Property subtype
Multifamily
Listing Agency:
Green Light Real Estate
(802) 225-6425
Listed By:
Ray Mikus · License #VT 081.0078511
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Aug 29 at 8:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Green Light Real Estate
Investment Insights
Based on property information with market context.
This is a turn-key, stabilized, fully leased, renovated, and well-maintained six-unit apartment building located in downtown Montpelier. The property features three 2-bedroom units and three 1-bedroom units, all equipped with laundry facilities and hardwood floors. The units have been renovated with granite countertops, stainless steel appliances, and renovated bathrooms, floors, and paint. Units 1 and 2 share the front porch and a shared laundry. Units 3 and 4 have entrances from the side, while units 5 and 6 are newly built in a converted carriage barn. The property has a strong rental history, and tenants are responsible for their own utilities, except for units 5 and 6, where heat (heat pumps, mini-splits) is included in the rent. The property has an NOI of $87,000, resulting in a 6% cap rate. Each unit has assigned off-street parking. There is a backyard for tenants to enjoy. The barn on the property has areas marked off for tenant storage. The structure did not flood in July 2023. The land is in the 1% flood hazard zone, but a LOMA is in place attesting that the building is outside of the flood zone. The property is conveniently located near downtown Montpelier’s restaurants and shopping.
Key Highlights
- Stabilized, fully leased, renovated 6‑unit apartment building with a strong rental history.
- Solid 6% cap rate with an NOI of $87,000.
- Located in downtown Montpelier, convenient to restaurants and shopping.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,344
Businesses Nearby
Explore this area
Business Placement
Demographics for 05602, VT
12,235
Population
5,961
Households
2.1
Avg Household Size
46
Median Age
61%
College-Educated
97%
High-School Grad
87.8 sq mi
ZIP Area
139
Density / Sq Mi
$81,552
Median Household Income
$51,127
Median Earnings
$1,184
Median Rent
$341,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased, renovated apartment building in downtown Montpelier.
Where is this apartment building located?
The property is located at 184 Elm St Montpelier, VT.
What are key features of this property?
This property features: Stabilized, fully leased, renovated 6‑unit apartment building with a strong rental history.; Solid 6% cap rate with an NOI of $87,000.; Located in downtown Montpelier, convenient to restaurants and shopping.
