Seller Financing
Address
147 Main, Montrose, CO
Price
$ 1,595,000
Property Attributes
- MLS#2749033
- TypeCommercial
- CountyMONTROSE
- CityMontrose
- Zip81401
- StyleLow Rise (1-3)
- Year Built1960
- Taxes$ 3200
- Price$ 1,595,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage7314
Data Source:
REColorado (MTOMLS)
Property Description
STR - Short or long term 6 units: 8.4 %+ 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. *** long term rent would easily be $11,000 ++ month/ $132,000 yr (without paying any utils or cleaning costs) 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/upgraded w/ 90% new plumbing +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. Income airbnb vs Long term: Examples: Nov 23' income was net $11,000 for month, +, December 23' NET $12,500+ Jan 2023 was NET $ 12,500+. 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) *Over 166k in Gross income in 22' + growing in 2023 *Full monitored new fire suppression system (a 70k value) * Low taxes of only 3,800 a year! * NO HOA, street access on 3 sides. * ROOF access is easy and can be upgraded for amenities /income. *sold Fully Furnished
| Price History | |
|---|---|
| 11/28/2023 | Listed $1,697,550 |
| 2/6/2024 | 1% - $1,695,000 |
| 4/11/2024 | 6% - $1,599,000 |
| 4/18/2024 | 1% - $1,595,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Exterior Features | Balcony,Gas Grill |
| Zoning | b2 |
| Security Features | Carbon Monoxide Detector(s),Fire Alarm,Fire Sprinkler - Wet,Security Lights,Smart Cameras,Smart Locks,Smoke Detector(s) |
| Exclusions | some art and PP |
| Year Built | 1960 |
| Stories | 2 |
| Property SubType | Multi-Family |
| Tax Year | 2023 |
| Current Use | Residential |
| Gross Income | 186551 |
| OwnerPays | Electricity,Gas,Internet,Taxes,Trash Collection,Water |
| Building Name | 147 Main st / 26 S selig |
| County | Montrose |
| Operating Expense | 60450 |
| Property Type | Commercial Sale |
| Attached Garage | No |
| Status | Active |
| City | Montrose |
| Buyer Agent Compensation | 2.5 |
| NumberOfUnitsTotal | 6 |
| Street Name | Main |
| Listing Terms | Cash,Conventional,Owner Will Carry |
| Tax Annual Amount | 3200 |
| Structure Type | Low Rise (1-3) |
| Standard Status | Active |
| Occupancy Type | Tenant (Multiple) |
| Cap Rate | 7.87 |
| Buyer Agent Compensation Type | % |
Exterior Features
| Lot Features | Corner Lot |
|---|---|
| Water Source | Public |
| Total Parking | 15 |
| Building Area Total | 7314 |
| Road Surface Type | Paved |
| Road Frontage Type | Public,Year Round |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 81401
Price
Taxes
Visits
Year Built
Walkscore
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