279 River Street Montpelier, Vermont 05602 MLS# 4880282

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Sold Status

$269,000 Sold Price

Multi Type

5 Beds

3 Baths

2,202 Sqft

Listed By Ray Mikus of Green Light Real Estate
Sold By Flex Realty

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Solid Montpelier three-unit on the market! Consists of three floors of apartments. The first floor is a nicely updated two bedroom unit. Second floor is also nicely updated, and also two bedrooms. The third floor is a one bedroom unit with a long term tenant. It's a good unit, just hasn't been updated quite as recently. Tenants pay their own heat. Unit 3 pays its own electric, Units 1 and 2 share a meter and electric is included. The expensive investments have been made to this building already including vinyl siding, replacement windows, architectural shingle roof, spray foam in basement, electrical, and more. Off-street parking in back. Gross rents are $26,700 with over $16,000 in net operating income. Easy access to downtown Montpelier, Barre, shopping/restaurants along the Barre-Montpelier Road, Berlin Corners, 89, and the hospital. Operating expenses in listing includes property taxes. †

Property Location

279 River Street Montpelier

Property Details

Essentials

Sold Price $269,000		Sold Date Dec 7th, 2021
List Price 269,000	Bedrooms 5	Garage Size Car
Cooperation Fee Unknown	Total Bathrooms 3	Year Built 1897
MLS# 4880282	Lot Size 0.61 Acres	Taxes $4,006
Type Multi-Family	Days on Market 1178 Days	Tax Year 2021
Units 3	Stories 3	Road Frontage 59
Annual Income $26,700	Style Apartment Building	Water Frontage
Annual Expenses $0	Finished 2,202 Sqft	Construction No, Existing
Zoning Eastern Gateway	Above Grade 2,202 Sqft	Seasonal No
Total Rooms 5	Below Grade 0 Sqft	List Date Aug 31st, 2021

Expenses

Gross Income $26,700	Operating Expenses $0	Net Income $16,545

Expenses Includes

Unit Size & Rent

Unit 1 2 Beds, 1 Baths, $875/Monthly	Unit 2 2 Beds, 1 Baths, $850/Monthly
Unit 3 1 Beds, 1 Baths, $500/Monthly

Building

ConstructionWood Frame
BasementInterior, Unfinished
Interior Features
Exterior Features

Exterior Vinyl	Disability Features
Foundation Concrete	House Color White
Floors	Building Certifications
Roof Shingle-Architectural	HERS Index

Property

DirectionsIn Montpelier, take Route 2 toward Berlin. At the roundabout (route 2 and Route 302) bear toward Route 302, staying on the Barre Montpelier Road. Building is near the roundabout, on the right. Park in the rear.
Lot Description, Major Road Frontage
Garage & Parking No, , , Driveway

Road Frontage 59	Water Access
Driveway Gravel	Water Type
Flood Zone No	Water Body
Zoning Eastern Gateway

Schools

School District Montpelier School District	Middle Main Street Middle School
Elementary Union Elementary School	High Montpelier High School

Utilities

Heat Fuel , Gas-Lp/Bottle	Excluded
Heating/Cool None, Individual	Negotiable
Sewer Public	Parcel Access ROW
Water Public	ROW for Other Parcel
Water Heater Electric	Financing
Cable Co	Documents
Electric Circuit Breaker	Tax ID 405-126-11926

† The remarks published on this webpage originate from Listed By Ray Mikus of Green Light Real Estate via the PrimeMLS IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman cannot be held responsible for possible violations of copyright resulting from the posting of any data from the PrimeMLS IDX Program.