52-68 Northfield Street Montpelier, Vermont 05602 MLS# 4868060

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Sold Status

$815,000 Sold Price

Multi Type

15 Beds

5 Baths

9,241 Sqft

Listed By Ray Mikus of Green Light Real Estate
Sold By Steinmetz
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Washington County

52-68 Northfield Street

Nine good units, with plenty of parking in the heart of Montpelier. This multifamily package consists of three buildings and two building lots. 52 has four one-bedroom units. Both upstairs units have access to the full attic. Landlord pays heat for 52. Additional living space or bedrooms? The downstairs units have access to the basement for storage. 56 has a 4-bedroom and two 2-bedroom units. The 2-bedroom units were completely redone by Clar Construction in the past few years, including wood floors, new kitchens, bathrooms, heat pumps, everything. Please note that the current owner has structured such that one of the 2-bedrooms in 56 works as the "super" in exchange for rent and utilities. Tenants (except the super) pay heat and electricity for 56. 68 has two 3-bedroom units, each with access to the full attic and basement. Tenants pay heat and electricity in 68. These units are easy to rent. The property is, and usually is, fully rented. Many long term tenants, including some who have been there for 20 years or more. The buildings are in differing condition. A couple units in 52 could benefit from updating, but the rest are fine/very good. Rents have not been raised in a couple years, opportunity to increase rents throughout, even more so if rooms are added. Also included are two adjacent lots. More multis? Storage? Single family? Being offered as a package. Serious inquiries only. See attachments for financial details.

Property Location

52-68 Northfield Street Montpelier

Property Details

Sold Price  $815,000 Sold Date  Jun 3rd, 2022
MLS#  4868060 Bedrooms  15 Garage Size   Car
List Price  850,000 Total Bathrooms  5 Year Built  1900
Type  Multi-Family Lot Size  3.3900 Acres Taxes $22,727
Units  9 Stories  3 Road Frontage  200
Annual Income  $94,752 Style  Apartment Building Water Frontage  
Annual Expenses  $0 Finished  9,241 Sqft Construction  No, Existing
Zoning   Nfld Street-North Above Grade  9,241 Sqft Seasonal  No
Total Rooms  15 Below Grade  0 Sqft List Date  Jun 22nd, 2021
Gross Income  $94,752 Operating Expenses  $0 Net Income  $54,552
Expenses Includes 
Unit 1   1 Beds, 1 Baths, $871/Monthly Unit 2   1 Beds, 1 Baths, $700/Monthly
Unit 3   1 Beds, 1 Baths, $700/Monthly Unit 4   1 Beds, 1 Baths, $925/Monthly
Unit 5   3 Beds, 1 Baths, $1,250/Monthly Unit 6   2 Beds, Baths, $1,050/Monthly
Unit 7   3 Beds, Baths, $1,250/Monthly Unit 8   3 Beds, Baths, $1,150/Monthly
ConstructionWood Frame
BasementInterior, Full, Concrete
Interior Features
Exterior Features
Exterior  Wood Disability Features  
Foundation  Stone, Concrete House Color  
Floors   Building Certifications  
Roof  Shingle-Architectural HERS Index  
DirectionsIn Montpelier, take Northfield Street (Route 12) toward Northfield. Property is on the left. Three multi-family buildings and two lots.
Lot Description, Landscaped, Rental Complex
Garage & Parking  No, ,
Road Frontage  200 Water Access  
Driveway  Gravel Water Type  
Flood Zone  No Water Body  
Zoning  Nfld Street-North
School District  Montpelier School District Middle  Main Street Middle School
Elementary  Union Elementary School High  Montpelier High School
Heat Fuel  , Oil, Electric Excluded  
Heating/Cool  Mini Split, Hot Water, Hot Air, Heat Pump, Mini Split Negotiable  
Sewer  Public Parcel Access ROW  
Water  Public ROW for Other Parcel  
Water Heater  Electric, Oil Financing  
Cable Co   Documents  
Electric  Circuit Breaker Tax ID  405-126-12335, -36, -37
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† The remarks published on this webpage originate from Listed By Ray Mikus of Green Light Real Estate via the NNEREN IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman Realty cannot be held responsible for possible violations of copyright resulting from the posting of any data from the NNEREN IDX Program.