20 West Main Street Richmond, Vermont 05477 MLS# 4794096

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Sold Status

$315,000 Sold Price

Multi Type

6 Beds

6 Baths

2,982 Sqft

Listed By Flex Realty Group of Flex Realty
Sold By Sara Puretz of Coldwell Banker Hickok and Boardman

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Richmond

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Great opportunity for an investor exists in this 6 unit commercially zoned apartment house right in the heart of Richmond! Built not long after the Round Church, this historic property is situated directly on route 2 by the corner of Bridge St. and is conveniently located with off street parking and just a short walk to restaurants, shops and plenty of other local amenities. With low annual expenses, this property is waiting for the next owner to take it over and build some equity with updates to the units and structure itself which could allow more opportunity to substantially increase monthly rents and cash flow. Current rents are below market for the area. There are 3 one bedroom units to go along with 3 studios making it very easy to rent. Each unit has an assigned parking space and tenants currently pay heat and electricity. The property enjoys quick access to I-89 and is only a short drive to Bolton Valley Ski Resort and so much more! †

Property Location

20 West Main Street Richmond

Property Details

Essentials

Sold Price $315,000		Sold Date Oct 20th, 2020
MLS# 4794096	Bedrooms 6	Garage Size Car
List Price 349,900	Total Bathrooms 6	Year Built 1823
Type Multi-Family	Lot Size 0.2300 Acres	Taxes $6,317
Units 6	Stories 1/1/1900	Road Frontage 67
Annual Income $53,460	Style Apartment Building	Water Frontage
Annual Expenses $0	Finished 2,982 Sqft	Construction No, Existing
Zoning Commercial	Above Grade 2,982 Sqft	Seasonal No
Total Rooms 6	Below Grade 0 Sqft	List Date Feb 14th, 2020

Expenses

Gross Income $53,460	Operating Expenses $0	Net Income $40,543

Expenses Includes

Unit Size & Rent

Unit 1 1 Beds, 1 Baths, $795/Monthly	Unit 2 1 Beds, 1 Baths, $650/Monthly
Unit 3 1 Beds, 1 Baths, $745/Monthly	Unit 4 1 Beds, 1 Baths, $745/Annually
Unit 5 1 Beds, 1 Baths, $795/Annually	Unit 6 1 Beds, 1 Baths, $725/Monthly

Building

ConstructionWood Frame
BasementWalk-up, Unfinished, Exterior Stairs, Unfinished, Exterior Access
Interior Features
Exterior Features

Exterior Wood, Brick	Disability Features
Foundation Stone	House Color
Floors Carpet, Vinyl, Wood	Building Certifications
Roof Metal	HERS Index

Property

DirectionsFrom Richmond exit on I-89, take Route 2 into Richmond. Property will be on the left next to the ski shop at the intersection of W. Main St and Bridge St.
Lot Description, City Lot
Garage & Parking No, ,

Road Frontage 67	Water Access
Driveway ROW, Common/Shared, Gravel	Water Type
Flood Zone No	Water Body
Zoning Commercial

Schools

School District NA	Middle Camels Hump Middle USD 17
Elementary Richmond Elementary School	High Mt. Mansfield USD #17

Utilities

Heat Fuel	Excluded
Heating/Cool None, Wall Furnace	Negotiable
Sewer Public	Parcel Access ROW
Water Public	ROW for Other Parcel
Water Heater Electric	Financing
Cable Co	Documents
Electric Circuit Breaker	Tax ID 519-163-11416

† The remarks published on this webpage originate from Listed By Flex Realty Group of Flex Realty 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.