273-287 Main Vergennes, Vermont 05491 MLS# 4515170

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Sold Status

$431,500 Sold Price

Multi Type

18 Beds

8 Baths

6,891 Sqft

Listed By Warren Palm of BHHS Vermont Realty Group/S Burlington
Sold By BHHS Vermont Realty Group/S Burlington
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273-287 Main

Very high cash flow and great CAP Rate. Yes, the landlord pays heat and water and sewer but the net income is still outstanding. New high-end heating system installed for whole building 2005; electrical updated 2006 and 2012 along with plumbing improvements. Each unit has its own thermostat but controlled by landlord. Each unit has its own washer/dryer hookup. Good off street parking. Grade level units have sunrooms and covered front porches. This is a very good property for seasoned investor; just do the numbers. 2012 each unit new kitchens and new flooring. Owner has invested over $80,000 in last 3 years and over $20,000 in past 6 months on improvements. †

Property Location

273-287 Main Vergennes

Property Details

Sold Price  $431,500 Sold Date  Jun 28th, 2017
List Price  449,500 Bedrooms  18 Garage Size  0 Car
Cooperation Fee  Unknown Total Bathrooms  8 Year Built  1900
MLS#  4515170 Lot Size  0.4 Acres Taxes $7,263
Type  Multi-Family Days on Market  2994 Days Tax Year 2016
Units  8 Stories  2 Road Frontage  110
Annual Income  $0 Style  Other Water Frontage  
Annual Expenses  $31,615 Finished  6,891 Sqft Construction  No, Existing
Zoning   Commercial Above Grade  5,016 Sqft Seasonal  No
Total Rooms  18 Below Grade  1,875 Sqft List Date  Sep 12th, 2016
Gross Income  $0 Operating Expenses  $31,615 Net Income  $94,920
Expenses Includes 
Unit 1   2 Beds, 1 Baths, 554 SqFt, $935/Mo Unit 2   2 Beds, 1 Baths, 1,256 SqFt, $930/Mo
Unit 3   3 Beds, 1 Baths, 1,256 SqFt, $1,235/Mo Unit 4   3 Beds, 1 Baths, 1,256 SqFt, $1,135/Mo
Unit 5   2 Beds, 1 Baths, 704 SqFt, $0/Mo Unit 6   2 Beds, 1 Baths, 625 SqFt, $0/Mo
Unit 7   2 Beds, 1 Baths, 625 SqFt, $0/Mo Unit 8   2 Beds, 1 Baths, 625 SqFt, $0/Mo
ConstructionWood Frame
BasementWalkout, Apartments, Finished
Interior Features
Exterior Features
Exterior  Wood, Vinyl Disability Features  
Foundation  Concrete, Stone House Color  White
Floors  Vinyl, Carpet Building Certifications  
Roof  Slate, Metal HERS Index  
DirectionsRte 7 to Rte 22A. Go through light at center of town. West down hill. Property on left just before the bridge.
Lot Description, City Lot, Commercial Zoning, Business District
Garage & Parking  No, , , Unassigned, 5-10 Spaces, On Site
Road Frontage  110 Water Access  
Driveway  Gravel Water Type  
Flood Zone  No Water Body  
Zoning  Commercial
School District  NA Middle  Vergennes UHSD #5
Elementary  Vergennes UES #44 High  Vergennes UHSD #5
Heat Fuel  , Oil Excluded  
Heating/Cool  Multi Zone, Baseboard, Multi Zone, Hot Air, Heat Included Negotiable  
Sewer  Public Parcel Access ROW  
Water  Public ROW for Other Parcel  
Water Heater  Owned, On Demand, Oil, Off Boiler Financing  , Cash Only, Commercial
Cable Co   Documents  Certificate CC/CO, Deed, Property Disclosure, Lease Agreements
Electric  Circuit Breaker, Other, 220 Plug Tax ID  66321010159
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† The remarks published on this webpage originate from Listed By Warren Palm of BHHS Vermont Realty Group/S Burlington 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.