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Listed by Mike Kalil • Watson Realty & Associates
$848,000
Est. payment /mo
8 BD
8 BA
9,600 SqFt
New
85-87 Main Street ST Fair Haven, VT 05743
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UPDATED:
12/21/2024 09:10 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,600 sqft
Price per Sqft $88
MLS Listing ID 5025060
Bedrooms 8
Full Baths 8
Construction Status Existing
Year Built 1892
Annual Tax Amount $10,719
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Description
Investors take note of this nicely maintained 4 story brick commercial building that has a first floor commercial rental that consists of approximately 1800 sq. feet and it has been used as a Cafe for years now its a retail business. The second through fourth floors have a total of 9 one bedroom apartments, having 3 on each floor and having access via stairs or elevator. The current rental income and expenses are producing an 10 plus cap rate. The building was modernized in the 1980's and has 2 Dedietrich oil fired boilers, 2 meters, insulated double hung windows in residential units, 2 sixty gallon hot water makers off boilers, membrane roof, all residing on a 50x61 commercial lot that is directly across from the well known park and offers great street exposure. Prime time to purchase in downtown Fair Haven as there has been a lot of interest in various business's wanting to establish in town. A downtown revitalization committee has been formed to draw more people to downtown. The towns central park holds numerous yearly functions producing large gatherings to the town. Now is the time to invest in downtown Fair Haven. HAP contract in place, so hardly any vacancies available in the residential units. Gross income $124,800 NOI is over $79,481
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning commercial/residential
Rooms
Basement Entrance Interior
Basement Concrete Floor, Full
Interior
Cooling Multi Zone
Exterior
Utilities Available Cable - Available, Phone
Roof Type Membrane
Building
Story 4+
Foundation Poured Concrete
Sewer Public
Construction Status Existing
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