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Attention investors & developers! Two buildings on 4.1 acres with potential to double the number of units! Currently a single-family colonial and raised ranch-style duplex - both with 2-car garages and plenty of flat yard surrounded by mature trees. Long-term tenants with rent increases starting January 2023. Public water, separate septic, & recently serviced heating systems. Great short term enhanced development and revenue, and potential long-term enhanced development and revenue. Roof on 186 Colchester Rd is newer. Good location on the corner of Susie Wilson Road and Route 2 just minutes to all Essex amenities and just 15 minutes to Burlington.
Property Location
186-190 Colchester Road Essex
Property Details
Sold Price $750,000
Sold Date Jul 31st, 2023
MLS# 4933091
Bedrooms 8
Garage Size 4 Car
List Price 865,000
Total Bathrooms 4
Year Built 1980
Type Multi-Family
Lot Size 4.1000 Acres
Taxes $12,805
Units 3
Stories 2
Road Frontage 332
Annual Income $60,900
Style Saltbox
Water Frontage
Annual Expenses $0
Finished 3,602 Sqft
Construction No, Existing
Zoning Residential
Above Grade 2,662 Sqft
Seasonal No
Total Rooms 8
Below Grade 940 Sqft
List Date Oct 10th, 2022
Gross Income $60,900
Operating Expenses $0
Net Income $17,955
Expenses Includes
Unit 1 3 Beds, 1 Baths, 1,440 SqFt, $1,825/Monthly
Unit 2 3 Beds, 1 Baths, 1,480 SqFt, $1,750/Monthly
Unit 3 2 Beds, 2 Baths, 1,300 SqFt, $1,500/Monthly
ConstructionWood Frame
BasementWalkout, Apartments
Interior Features
Exterior Features
Exterior Vinyl, Brick
Disability Features
Foundation Concrete
House Color White/Brow
Floors Vinyl, Carpet
Building Certifications
Roof Shingle-Asphalt
HERS Index
DirectionsFrom Winooski/Burlington – Route 15 East, left onto Susie Wilson Road and continue straight onto the Susie Wilson Extension, at light – right onto Colchester Road/Route 2A. Properties on the right, first two driveways, see signs.
Lot Description, Corner
Garage & Parking Yes, Assigned, , On Site, Unassigned, Off Street, Garage, Unassigned
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