147 Main Montrose, CO ^$ 1,595,000

147 Main

^$ 1,595,000

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147 Main

Montrose, CO, 81401

^$ 1,595,000

Studio Baths0.0 Sq 7,314

Monthly Estimate*

^$ 11,142

Listed by Telluride Realty LLC

Studio

Commercial Property for sale in Montrose, CO

for $1,595,000. This 7,314 square foot building was built in 1960.

STR - Short or long term 6 units: 7.8%+ 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

Commercial Active

Price

^$ 1,595,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 3,200

Style

Low Rise (1-3)

Year Built

1960

Town/City

Montrose

County/Region

Montrose

MLS | Web ID

2749033

Features

General

Sewer Public Sewer

Exterior Features Balcony Gas Grill

Zoning b2

Garage Spaces 0

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

Building Name 147 Main st / 26 S selig

County Montrose

Operating Expense 60450

Property Type Commercial Sale

Attached Garage N

Status Active

City Montrose

Buyer Agent Compensation 2.5

Total Units 6

Carport Spaces 0

Street Name Main

Listing Terms Cash Conventional Owner Will Carry

Tax Annual Amount 3200

Structure Type Low Rise (1-3)

Standard Status Active

Occupancy Description Tenant (Multiple)

Cap Rate 7.87

Buyer Agent Compensation Type %

Exterior

Lot Features Corner Lot

Water Source Public

Total Parking 15

Building Area Total 7314

Road Surface Type Paved

Road Frontage Type Public Year Round

Internal Only

Street Number 1 147

* Excluded Features

List By

Telluride Realty Llc

Broker

(970) 708-0494

Phone

Affordability Calculator

$11,408

Per Month

Monthly Principal & Interest: $11,142
Monthly Property Taxes: $267
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Trends
Schools

Commerical listings in Montrose, CO

Average List Price ^$1,595,000

Percent of Sale Price 0%

About Montrose, CO

19,514 Population

37% Since 2002

^$41,668 Median Income

40.15 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

242254 Elementary School

242425 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/18/2024	$1,595,000	-0.25%	Price Down
4/11/2024	$1,599,000	-5.66%	Price Down
2/6/2024	$1,695,000	-0.15%	Price Down
11/28/2023	$1,697,550		Listed Price

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147 Main, Montrose, CO, 81401 is a Commercial Property for sale at $1,595,000 with 7,314 sqft. 147 Main is a studio with 0.0 baths and was built in 1960. The property's zip code is 81401 which is in Montrose, CO

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Data is updated as of 4/30/2024.

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147 Main

Commercial Property for sale in Montrose, CO

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