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Listed by Gurjot Singh • RE/MAX North Professionals
$739,175
Est. payment /mo
13 Beds
8 Baths
8,165 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,165 sqft
Price per Sqft $90
MLS Listing ID 5096015
Bedrooms 13
Full Baths 8
Construction Status Existing
Year Built 1890
Annual Tax Amount $13,190
Tax Year 2025
Lot Size 10,454 Sqft
Acres 0.24
Property Description
Not located in an active FEMA-designated flood zone and not impacted by flooding events, this exceptional 7-unit investment opportunity at 254 Elm Street in Montpelier, presents investors with a rare chance to acquire a well-positioned asset offering immediate income and future growth potential. Located in Vermont's capital city, the property benefits from a strong and diverse tenant base supported by state government offices, healthcare providers, educational institutions, and local businesses. The building currently consists of seven residential units, providing stable cash flow and minimizing vacancy risk through multiple income streams. Investors will appreciate the opportunity to further increase value through thoughtful renovations, improved management strategies, and rental adjustments over time. In addition to the potential for an eighth unit (buyer to verify permitting and zoning), there may be opportunities to create additional units, offering further upside and long-term value enhancement. Opportunities of this size are increasingly difficult to find in the Montpelier market, where inventory remains limited and demand for quality rental housing continues to be strong. With the potential to achieve a 10%+ capitalization rate based on current or optimized operations, the property stands out as an attractive option for investors seeking both yield and long-term appreciation. Situated on Elm Street, residents enjoy easy access to downtown Montpelier's restaurants, shops, recreation, and community amenities, while Interstate 89 provides convenient regional access throughout Central Vermont. Combining strong income characteristics, expansion possibilities, and a highly desirable location, 254 Elm Street offers a compelling opportunity for investors seeking a scalable asset in one of Vermont's most established and resilient rental markets. Please note that property taxes have been accounted for in the operating expenses used in the financial information.
Location
State VT
County Vt-washington
Area Vt-Washington
Zoning Mixed Use Residential
Rooms
Basement Entrance Walkout
Basement Dirt Floor, Exterior Access
Interior
Cooling None
Exterior
Utilities Available Cable Available, Telephone Available
Roof Type Membrane,Asphalt Shingle
Building
Story 3
Sewer Public
Architectural Style Historic Vintage, Multi-Family
Construction Status Existing
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