54 Mill St, Barre, VT

House

For Sale

Listed price in listed location currency (USD).

$1,550,000

002

MLS® 5106066

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 7340 sqft

Garage Yes

Taxes $19,792

Days Active 12

Lot Size 1.62 Acres

Approx. Age 1880

Avg. Price Per Sqft $211

MLS® Number 5106066

Property Address: 54 Mill St, Barre, VT, 05641-4852

Average square foot calculated using Size range provided by listing agent.

Description

Turnkey Multi Family Investment Opportunity in Central Vermont at 54, 56, 58, and Lot 1 Mill Street, Barre City, VT. Boasting more than 7300 finished sqft at roughly $210/sqft, 13 bedrooms and 11 baths, this is a great opportunity! Rare chance to own a well maintained, income producing property in the heart of Central Vermont. Situated on 1.62 acres at the end of Mill Street, this unique offering includes two single family homes, a 9 unit apartment building, and an included empty lot, an ideal turnkey investment for an owner operator or investor alike. One single family home was built as recently as 2003, with a 2 car garage and storage above. An additional shed with electricity offers convenient space for property maintenance tools. Several apartment units have been recently renovated with new flooring and fresh paint, adding to the property's turnkey appeal and rental value. The included empty lot offers exciting potential to add another building and generate further income. Located at the end of Mill Street, the parcel abuts walking paths, and the beautiful Stevens Branch waterway (no flooding has affected the property in the last few local floods) with plenty of parking and yard space. All units are currently rented, reflecting excellent rental history and steady cash flow. The property operates at a 6.64% cap rate and grosses over $150, 000 per year. Bringing rents to market rates could add roughly $26, 000 in gross income, pushing the cap rate to nearly 8.2%, offering strong upside for investors. Conveniently located near shopping, restaurants, and easy access to I 89, this is a rare chance to acquire a stable, cash flowing multi family asset in a highly desirable Central Vermont location.

MLS® Number5106066

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1880

BasementConcrete Floor, Exterior Entry, Full, Interior Entry, Partially Finished, Storage Space, Unfinished

DrivewayGarage, Off Street, On Site, Parking Spaces 11 - 20, Paved, Unassigned

Garage Spaces

HeatOil, Boiler

A/CNone

Extras

Map

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