Courtesy Of Flex Realty Group Of Flex Realty

20 West Main St

Richmond, VT 05477 View Map $315,000 Ask a Question
Baths23/4
Sq.Ft.2,982
Year1823
20 West Main St Richmond, VT 05477 | MLS 4794096 Photo 1
20 West Main St Richmond, VT 05477 | MLS 4794096 Map
Bean Group

Bean Group

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Status: Sold
Listing Office:Flex Realty
Selling Office:Coldwell Banker Hickok And Boardman
Property Type:Multi-Family
MLS #:4794096
Sq. Feet:2,982
Date Sold:10/20/2020
Lot Size:10,019 Sq. Ft.
County:Chittenden
Great opportunity for an investor exists in this 6 unit commercially zoned apartment house right in the heart of Richmond! Built not long after the Round Church, this historic property is situated directly on route 2 by the corner of Bridge St. and is conveniently located with off street parking and just a short walk to restaurants, shops and plenty of other local amenities. With low annual expenses, this property is waiting for the next owner to take it over and build some equity with updates to the units and structure itself which could allow more opportunity to substantially increase monthly rents and cash flow. Current rents are below market for the area. There are 3 one bedroom units to go along with 3 studios making it very easy to rent. Each unit has an assigned parking space and tenants currently pay heat and electricity. The property enjoys quick access to I-89 and is only a short drive to Bolton Valley Ski Resort and so much more!

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
10/22/2020$349,900$315,000-10%

Community Information

Address:20 West Main St Richmond, VT 05477
County:Chittenden
City:Richmond
Zip Code:05477

School Information

High School:Mt. Mansfield USD #17
Middle School:Camels Hump Middle USD 17
Elementary School:Richmond Elementary School

Architecture

Bathrooms: 2 Three-Quarter
Year Built:1823
Stories:1.5
Style:Apartment Building
Construction: Wood Frame
Exterior: Brick, Wood
Total Heat Units: 6
Unit 1: 1 bed, 1, bath, level 1, style 1 Bedroom. Rent: $795 (paidMonthly). Status: Leased
Unit 2: 1 bed, 1, bath, level 1. Rent: $650 (paidMonthly). Status: Vacant
Unit 3: 1 bed, 1, bath, level 1. Rent: $745 (paidMonthly). Status: Leased
Unit 4: 1 bed, 1, bath, level 1. Rent: $745 (paid1). Status: Vacant
Unit 5: 1 bed, 1, bath, level 2. Rent: $795 (paidAnnually). Status: Leased
Unit 6: 1 bed, 1, bath, level 2. Rent: $725 (paidMonthly). Status: Leased
Roof: Metal
Foundation: Stone
Basement: Dirt Floor, Stairs - Exterior, Unfinished, Exterior Access

Features / Amenities

Flooring: Carpet, Vinyl, Wood
Heating: Wall Furnace
Heat Fuel: Gas - Natural
Water Heater: Electric

Square Footage

Finished Sq. Ft. Unfinished Sq. Ft.
Above Grade 2982 0
Below Grade 0 1297
Non-Conforming 0 0
Total 2982 1297

Property Features

Lot Size: 0.23 Acres / 10,019 Sq. Ft.
Lot Description: City Lot
Water: Public
Sewer: Public
Electric: Circuit Breaker(s)
Trash: Owner
Driveway: Common/Shared, Gravel, Right-Of-Way (ROW)
Roads: Public
Zoning:Commercial
Directions:From Richmond exit on I-89, take Route 2 into Richmond. Property will be on the left next to the ski shop at the intersection of W. Main St and Bridge St.

Tax and Financial Info

Tax - Gross Amount: $6,317
Tax Year: 2020
Gross Income: $53,460
Net Income: $40,543
Operating Expense: $12,917

Schools

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