Property profile

147 E Main St Montrose, CO 81401

FOR SALE
Other apartment buildings
Property ID
US13-1398333
7,314 SF 0.14 ac lot Built 1960
Entity Owned 9-yr Hold
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Property summary

AI-generated overview

The property is a six-unit multifamily building in a two-story configuration with two covered decks and a rooftop patio. It is situated on a corner lot with street access on three sides and includes multiple storage options, including five additional storage units (three inside the lobby and two outside). Unit interiors are described as having stainless appliances and elevated ceilings in many units, with a mix of unit layouts summarized by bedroom and bathroom counts, including a larger front unit described as approximately 3,000 square feet with bedrooms and baths plus access to decks and the rooftop patio. The building has been remodeled in the late 2010s (2017–2019) and had permitted upgrades in 2021, including system replacements and improvements such as substantially new plumbing (about 90%) and new wiring (about 90%), multiple new electric meters, and upgrades such as new windows and new flooring across most areas. A monitored fire suppression system is included and described as code compliant. The building is zoned B-1 and includes building-wide master fiber WiFi, along with five electric meters and two gas meters for utility allocation (with sewer, water, and trash described as handled by the owner).

Property profile

Verified
Property type Other apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1960
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 7,314 SF
Lot 0.14 ac (6,250 SF)
APN 3767-284-21-005
UPID US13-1398333

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Community Center

Location

147 E Main St Montrose, CO 81401
Montrose metro Census 966302 MONTROSE, CO MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$280k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$280k

Owner & transaction history

since 2017
2 recorded transactions
2017
$260,000
2006
$100,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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