57 High Street St. Albans City, Vermont 05478 MLS# 4977234

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Sold Status

$507,000 Sold Price

Multi Type

6 Beds

4 Baths

3,395 Sqft

Listed By Mikail Stein of RE/MAX North Professionals
Sold By RE/MAX North Professionals

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Looking for a great investment, look no further! Location, location, location, this High Street property, built in 1900 and kept in great shape with updates to plumbing, electrical, heating, flooring, kitchens, windows, etc. There are four units, two with 1 bedroom and 1 bath and two with 2 bedrooms and 1 bath. All of the apartments have good space and great daylight, not to mention their own washer and dryer. There is ample parking in the rear of the apartment on the properties nearly 1/5th of an acre lot. Tenants are responsible for all utilities other than trash, water & sewer with separate utilities. The property operates at a 6.58% CAP rate with net income of over $34,000/yr. If brought up to market rents the property could easily boast a CAP rate of over 8.65% and it doesn't get much better! Only 3 blocks from St. Albans' Main Street, less than a mile to the Hard'Ack Recreation Area, 50 Minutes to great skiing at Jay Peak, and only 30 minutes to Burlington's Church Street! A great property you'll want in your portfolio! †

Property Location

57 High Street St. Albans City

Property Details

Essentials

Sold Price $507,000		Sold Date Dec 22nd, 2023
MLS# 4977234	Bedrooms 6	Garage Size Car
List Price 525,000	Total Bathrooms 4	Year Built 1900
Type Multi-Family	Lot Size 0.1700 Acres	Taxes $6,111
Units 4	Stories 1/2/1900	Road Frontage
Annual Income $49,200	Style Colonial	Water Frontage
Annual Expenses $0	Finished 3,395 Sqft	Construction No, Existing
Zoning res	Above Grade 3,395 Sqft	Seasonal No
Total Rooms 6	Below Grade 0 Sqft	List Date Nov 9th, 2023

Expenses

Gross Income $49,200	Operating Expenses $0	Net Income $34,537

Expenses Includes

Unit Size & Rent

Unit 1 2 Beds, 1 Baths, $1,500/Monthly	Unit 2 1 Beds, 1 Baths, $850/Monthly
Unit 3 1 Beds, 1 Baths, $1,000/Monthly	Unit 4 2 Beds, 1 Baths, $750/Annually

Building

ConstructionOther
BasementWalk-up, Unfinished
Interior Features
Exterior Features

Exterior Vinyl Siding, Wood Siding	Disability Features
Foundation Brick, Concrete, Other, Other	House Color white
Floors	Building Certifications
Roof Slate, Other, Slate	HERS Index

Property

Directions
Lot DescriptionUnknown, City Lot
Garage & Parking No, , , 6+ Parking Spaces

Road Frontage	Water Access
Driveway Crushed Stone	Water Type
Flood Zone No	Water Body
Zoning res

Schools

School District NA	Middle
Elementary	High

Utilities

Heat Fuel	Excluded
Heating/Cool None, Baseboard, Hot Water, Hot Air, Monitor Type	Negotiable
Sewer Public	Parcel Access ROW
Water Public	ROW for Other Parcel
Water Heater Electric	Financing
Cable Co Comcast	Documents
Electric Circuit Breaker	Tax ID 549-173-10453

† The remarks published on this webpage originate from Listed By Mikail Stein of RE/MAX North Professionals 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.