Incredible investment opportunity in charming Vergennes! This four unit apartment building has been lovingly maintained by the same owner for decades with low-maintenance profitability in mind. The building has been updated with vinyl siding and windows, a metal roof, newer natural gas heat, solar panels, carpet-free units, and a massive 5+ car garage with storage above that would make an amazing workshop! The current owner has easily leased these for decades - long term tenants that have all been moved into month-to-month leases so a new buyer has options (though they all want to stay). The income on this property speaks for itself - with a pair of 2 br units, one 1 br plus den, and a 3 br/2ba, this property would bring $60k+ per year to an investor's portfolio. Or live in one of the units and have your money working for you! There is ample off-street parking, and a cute yard with a small playground and garden area. Located just 2 short blocks behind the main business district of Vermont's Smallest (and arguably most charming) City, easy walking distance to the shops and restaurants. 30 minutes to Burlington and less than 20 minutes to Middlebury. What an opportunity! †

Essentials

Contract Date Sep 20th, 2023
MLS# 4967341	Bedrooms 8	Garage Size 5 Car
List Price 775,000	Total Bathrooms 5	Year Built 1900
Type Multi-Family	Lot Size 0.4000 Acres	Taxes $0
Units 4	Stories 2	Road Frontage 118
Annual Income $86,700	Style Apartment Building, Historic Vintage	Water Frontage
Annual Expenses $0	Finished 4,592 Sqft	Construction No, Existing
Zoning HN	Above Grade 4,592 Sqft	Seasonal No
Total Rooms 8	Below Grade 0 Sqft	List Date Aug 26th, 2023

Expenses

Gross Income $86,700	Operating Expenses $0	Net Income $61,539

Expenses Includes

Unit Size & Rent

Unit 1 2 Beds, 1 Baths, 1,080 SqFt, $1,725/Monthly	Unit 2 3 Beds, 2 Baths, 1,200 SqFt, $2,300/Monthly
Unit 3 1 Beds, 1 Baths, 1,000 SqFt, $1,400/Monthly	Unit 4 2 Beds, 1 Baths, 1,080 SqFt, $1,600/Monthly

Building

ConstructionWood Frame
BasementWalk-up, Sump Pump, No Tenant Access, Dirt, Crawl Space, Exterior Access
Interior Features
Exterior Features

Exterior Vinyl, Vinyl Siding	Disability Features
Foundation Stone	House Color White
Floors Vinyl, Vinyl Plank	Building Certifications
Roof Metal	HERS Index

Property

DirectionsFrom Main St. (22A) in Vergennes downtown, go south on Green St., past the chocolate shop and Bar Antidote, and building is on the left.
Lot DescriptionNo, Sidewalks, Near Bus/Shuttle, Village
Garage & Parking Yes, Storage Above, , On Site, Unassigned, Garage, 6+ Parking Spaces, Unassigned

Road Frontage 118	Water Access
Driveway Gravel	Water Type
Flood Zone No	Water Body
Zoning HN

Schools

School District Addison Northwest	Middle Vergennes UHSD #5
Elementary Vergennes UES #44	High Vergennes UHSD #5

Utilities

Heat Fuel	Excluded Tenants in units 1, 3 and 4 own their own washer/dryers. W/D in owner\'s unit (2) convey.
Heating/Cool None, Radiant	Negotiable
Sewer Public	Parcel Access ROW No
Water Public	ROW for Other Parcel
Water Heater Electric	Financing
Cable Co	Documents
Electric Circuit Breaker	Tax ID 663-210-10253