Overview
- Commercial Sale
- 7314
- 1960
Description
STR – Short or long term 6 units: 7.8%+ CAP RATE !
13 bedroom/10 bath, Income producing Multi Family / Commercial rentals on Main st. Corner lot, all in one building, w/multiple uses, on Main St Montrose, near Telluride 7.4%+CAP (Varies with short term from 6.6% – 8.4% depending on year or rolling month.
Over.7,300+ feet w/ 5+ multi-family apartments included with the front huge commercial two-story section fora total of 6 rentals. Airbnb is allowed and very successful.(zoned B-1) (6 of the 6 units are now AIRBNB as of early 2022)
Located in the Opportunity Zone, main St Montrose CO, near Telluride Ouray and Hot Springs. Walking location downtown. Tenants can pay electric (5 meters) + (2 gas meters)
Recently restored and upgraded with 90% new plumbing and 90% new wiring, 5 new electric meters and 2 units are gas metered. Tenant wide/building wide master Fiber WIFI for future additional income. .City parking in multiple locations.
1) #147 main st , a huge 2000 sq feet 2 story w/ 5 bedrooms and 3.5 baths) (2 master ensuites upstairs w/ decks + rooftop patio. 2) #18 Selig Av is a small studio
3)#26A -Selig Av is a 2br/1bath,
4)#26B- 3br/2bath w/ tall vaulted ceilings ,
5)#26C) – 2br/1b w/ vaulted ceiling also
6)#26 D is a lock off rear 1/1.
The income has increased with the Airbnb strategy over long term .
Examples: Nov 22′ income was net $11,000 for month, +, December 2022 NET income was $12,500+ Jan 2023 was NET $ 12,500+.
Projecting over $186,000+ for 23′ Gross.
Low vacancy (as an example out of June, only 3 empty nights out of a possible 180 =.5% (half of 1 percent)
*Sold fully furnished (minus PP and some art)
*7.4%+ CAP rate based on list price and NOI 23′
*Over 166k in Gross income in 22′ + growing in 2023
*Full monitored new fire suppression system (a 70k value)
* Low taxes of only 3,200 a year!
* NO HOA, street access on 3 sides.
* ROOF access is easy and can be upgraded for amenities /income.
*sold Fully Furnished
Address
Open on Google Maps- Address 147 Main
- City Montrose
- State/county CO
- Zip/Postal Code 81401
- Country United States
Details
Updated on April 19, 2024 at 2:21 pm- Property ID: AMR24818629
- Price: $1,595,000
- Property Size: 7314 Sqft
- Year Built: 1960
- Property Type: Commercial Sale
- Property Status: For Sale
- MLS#: REC2749033
- Office Name: TELLURIDE REALTY LLC
- Agent Name: Scott Elkins
- MLS Status: Active
Additional details
- List Office MLSID: RECM2872
- List Agent MLSID: REC037480
- List Date: 2023-11-28T19:06:34.000Z
- Sewer: Public Sewer
Mortgage Calculator
- Principal & Interest
- Property Tax
- Home Insurance
- PMI
