Property Description

This is a 6 unit multi-family parcel, 2 stories w/ 2 decks + a rooftop patio. Great rental History with short and long term.7.46% CAP rate (w/all expenses except mngt) 177k++ of Gross income last year.14 bedroom/10 bath, 5-6 Unit Income producing Multi-Family on Main St, Montrose. Corner lot, all in one building, w/ multiple uses, near Telluride. *long term /normal MF income would be ~11,000+ a month if long vs STR = $133,000 with less management/expenses. Over 7,300+ feet plus 2 covered decks, 5 Apartments + a lock off,. Fully furnished Since its zoned B-1, you are at a massive advantage if rules come down the line as they have in other towns. No residential neighbors to complain STR are affecting neighborhood. Great walking location, right downtown with coffee/grocery/bars /distillery /CO-working /food trucks all within 2 blocks. If you long termed it, Tenants can pay electric (5 meters) + (2 gas meters). Owner would still pay sewer/water/trash. 5 extra storage units for the rentals also, (3 inside lobby, 2 outside). Recently restored and upgraded with 90% new plumbing and 90% new wiring, 5 new electric meters and 2 units are gas metered. Many new windows, 90%+ new flooring, stylish stone, barnwood and granite. Stainless appliances and high ceilings in most units. Building wide master Fiber WIFI for future additional income. Major $600,000 Remodel in 2017-19 and also permitted upgrades in 2021. City parking in multiple locations nearby and adjacent. 1)The front unit is 147 main st, a huge 3000 sq feet up and down unit with 5 bedrooms and 4 baths), (2 master ensuites upstairs with decks and rooftop patio. 2)#18 Selig Av is a large studio3) #26 Selig Av #A = 2br/1bath 4)#B 3br/2bath with very tall, vaulted ceiling5) 2br/1b w/ vaulted ceiling 6) #D is a lockoff of C, its a 1br/1b separate alleyway entrance can be combined with C to make 3/2. All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc )

Property Features