Sold Status
$190,000 Sold Price
Multi Type
6 Beds
3 Baths
2,225 Sqft
Sold By BHHS Vermont Realty Group/Morrisville-Stowe
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Lamoille County
Start or add to your investment portfolio with this newly updated three-unit property with the option for a brand-new construction of a fourth unit. You'll love the potential of a cash on cash return of 25% with a CAP rate of 11%. With (1) one bedroom, (2) two bedroom units, this property has spacial options for everyone! It is the perfect owner-occupied property with the one bedroom unit offering a separate entrance on the opposite side of the building or a great investment opportunity to earn income from three separate units (with the choice to add a fourth). The property has separate fuel tanks and electric meters saving you the expense of covering this as the owner! With newly updated windows, a new hot air heating system, and Rinnai heaters in two of the units, tenants stay comfortable and warm during the long Vermont winters. Looking for a little more land? The sale of this property is for the building and .2 acres , it does not include the lot. At this price the property will be conveyed as a 3 unit property. For a purchase price of $200K an additional 1 BR APT will be completed in the attached garage. This offers the potential of a 35% cash on cash return. There is an additional .1 acre lot behind this property that can be added to the purchase. This additional lot has already been zoned for a 3-bedroom house or 3 (1) bedroom units for even more investment potential! †
Property Location
Property Details
Sold Price $190,000 | Sold Date Apr 17th, 2019 | |
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MLS# 4735034 | Bedrooms 6 | Garage Size Car |
List Price 175,000 | Total Bathrooms 3 | Year Built 1877 |
Type Multi-Family | Lot Size 0.2000 Acres | Taxes $4,742 |
Units 3 | Stories 2 | Road Frontage 80 |
Annual Income $0 | Style Antique, Apartment Building | Water Frontage |
Annual Expenses $0 | Finished 2,225 Sqft | Construction No, Existing |
Zoning No zoning. | Above Grade 2,225 Sqft | Seasonal No |
Total Rooms 6 | Below Grade 0 Sqft | List Date Feb 1st, 2019 |