Spacious Colchester Quadplex Near
205 Blakely Road Colchester, VT 05446
For Sale
$900,000
Pending
Four units, seven bedrooms, desirable location near amenities.
Property Size3,520 SF
Lot Size0.70 Acres
Days on Market138
Property Features for 205 Blakely Road
General Information
- Standard status
- Pending
- Size
- 3,520 SF
- Lot size
- 0.70 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1972
Listing Agency:
RE/MAX North Professionals
(802) 861-6248
Listed By:
Mikail Stein
(802) 861-6248
Source:
Compass
Added: Mar 12
Changed: Jul 10
Last Checked: Jul 25 at 7:57AM
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 RE/MAX North Professionals
Investment Insights
Based on property information with market context.
Located on the outskirts of Malletts Bay, near town offices and schools, and directly in front of the Colchester Recreation Center, the property at 205 Blakely Road consists of four units within almost 4000 square feet. Each spacious unit, approximately 1000 square feet, features a full bath, a full kitchen with dishwashers, natural light, low pile carpet or vinyl flooring, and new windows. Recent updates include new flooring, a new efficient Weil McLain natural gas boiler, new windows, a five-year-old roof, and on-site coin-operated laundry and storage sheds. A Department of Health waiver, issued in 2013, exempts the property from IRC practices due to a Clay Point Associates, INC report indicating no lead paint within the residential structure. Situated on 0.70 acres, the property offers potential for additional development, subject to due diligence. The property is ready for immediate occupancy in all units, or consider updating at your leisure throughout to increase rental projections for this desirable location. With current rents and estimates for vacancies the CAP rate is 7.90% and easily brought to nearly 9%. Surrounded by community, schools, parks and recreation, and close to shopping and groceries this is a ideal investment or fantastic owner occupied home. The property includes a total of seven bedrooms and four bathrooms.
Key Highlights
- High CAP rate of 7.90%, with potential to reach nearly 9%.
- Four spacious units, each approximately 1000 sqft, with full kitchens and dishwashers.
- Prime location near schools, town offices, the Colchester Recreation Center, parks, shopping, and groceries.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $15.96 |
| − Vacancy | −$640 | −$0.18 |
| EGI | $55.5k | $15.78 |
| − OpEx | −$16.7k | −$4.73 |
| NOI | $38.9k | $11.04 |
3,520 SF · lease $15.96/SF/yr · vacancy 1.14% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$555.4K
$486.0K – $648.0K
NOI $38,877 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$491.9K
$430.4K – $573.8K
NOI $34,430 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$965.5K
$844.8K – $1.13M
NOI $67,584 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four units, seven bedrooms, desirable location near amenities.
Where is this quadplex located?
The property is located at 205 Blakely Road Colchester, VT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: High CAP rate of 7.90%, with potential to reach nearly 9%.; Four spacious units, each approximately 1000 sqft, with full kitchens and dishwashers.; Prime location near schools, town offices, the Colchester Recreation Center, parks, shopping, and groceries.
