20 West Main Street Richmond, Vermont 05477

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For Sale Status
$370,000 Price
Multi Type
6 Beds
6 Baths
2,982 Sqft
Listed By Flex Realty Group of Flex Realty

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Richmond is located in the Green Mountains of Vermont and is bisected by the Winooski River. It is a small town with Vermont character and agriculture where you will continuously find yourself in awe over the breathtaking views. The Old Round...

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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

Property Details

MLS#  4794096 Bedrooms  6 Garage Size   Car
List Price  370,000 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  $40,543 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
Gross Income  $53,460 Operating Expenses  $0 Net Income  $40,543
Expenses Includes 
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
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  
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
School District  NA Middle  Camels Hump Middle USD 17
Elementary  Richmond Elementary School High  Mt. Mansfield USD #17
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.