184 Elm St Montpelier, VT 05602
- Apartment buildings
- 5,084 SF
- 0.28 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 184 Elm St
- Year built
- 1950
- Lot size
- 0.28 lot acres
- Property size
- 5,084 SF
- Property type
- Apartment buildings
Description
This exceptional Class A, six-unit apartment building presents a compelling investment opportunity in the vibrant city of Montpelier, Vermont. Boasting 5,084 square feet on a 0.28-acre lot, this meticulously maintained property offers a blend of classic charm and modern upgrades. The building, constructed in 1950 and featuring two stories, comprises three two-bedroom units and three one-bedroom units, all boasting hardwood floors and in-unit laundry. Recent renovations include granite countertops, stainless steel appliances, and updated bathrooms. Units 1 and 2 share a front porch and laundry facilities, while units 3 and 4 have a separate side entrance. Units 5 and 6 are newly constructed within a converted carriage barn. The property includes assigned off-street parking for each unit and a pleasant backyard. Tenants pay their own utilities, except for units 5 and 6, which have heat included (via heat pumps/mini-splits). The building enjoys a strong rental history and a current Net Operating Income (NOI) of $87,000, resulting in a 6% capitalization rate. Located at 184 Elm St, Montpelier, VT 05602, this mixed-use residential zoned property offers unparalleled convenience to downtown amenities. Importantly, the structure did not flood during the July 2023 event
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montpelier
- County
- Washington
- State
- Vermont
- Longitude
- -72.5719
- Latitude
- 44.2642
