Address
147 Main, Montrose, CO
Price
$ 1,695,000
Property Attributes
  • MLS#2749033
  • TypeCommercial
  • CountyMONTROSE
  • CityMontrose
  • Zip81401
  • StyleLow Rise (1-3)
  • Year Built1960
  • Taxes$ 3200
  • Price$ 1,695,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage7314
Data Source:
REColorado (MTOMLS)
Property Description

STR - Short or long term 6 units: 7%+ 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

Price History
11/28/2023 Listed $1,697,550
2/6/2024 1% - $1,695,000

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
Total Units 6
Street Name Main
Tax Annual Amount 3200
Structure Type Low Rise (1-3)
Standard Status Active
Occupancy Description Tenant (Multiple)
Cap Rate 7.4
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
AVG $1.07M
$1.7M
Taxes
AVG $7,184
$3,200
Visits
AVG 41
42
Data Provided by Inside Real Estate®
Year Built
AVG 1955
1960
Walkscore
AVG 75
82
Data Provided by Walkscore® not using MLS data