147 E Main Street
Montrose, CO, 81401 $ 1,499,000
Bedrooms-- Baths-- Sq 7,318 Monthly Estimate*
$ 9,352
Listed by Telluride Realty LLC
for $1,499,000. This 7,318 square foot building was built in 1960.
This is a 6 unit multi-family parcel, 2 stories w/ 2 decks + a rooftop patio. Great rental History with short and long term. 7.46% CAP rate (w/all expenses except mngt) 177k++ of Gross income last year. 14 bedroom/10 bath, 5-6 Unit Income producing Multi-Family on Main St, Montrose. Corner lot, all in one building, w/ multiple uses, near Telluride. *long term /normal MF income would be ~11,000+ a month if long vs STR = $133,000 with less management/expenses. Over 7,300+ feet plus 2 covered decks, 5 Apartments + a lock off,. Fully furnished Since its zoned B-1, you are at a massive advantage if rules come down the line as they have in other towns. No residential neighbors to complain STR are affecting neighborhood. Great walking location, right downtown with coffee/grocery/bars /distillery /CO-working /food trucks all within 2 blocks. If you long termed it, Tenants can pay electric (5 meters) + (2 gas meters). Owner would still pay sewer/water/trash. 5 extra storage units for the rentals also, (3 inside lobby, 2 outside). Recently restored and upgraded with 90% new plumbing and 90% new wiring, 5 new electric meters and 2 units are gas metered. Many new windows, 90%+ new flooring, stylish stone, barnwood and granite. Stainless appliances and high ceilings in most units. Building wide master Fiber WIFI for future additional income. Major $600,000 Remodel in 2017-19 and also permitted upgrades in 2021. City parking in multiple locations nearby and adjacent. 1)The front unit is 147 main st, a huge 3000 sq feet up and down unit with 5 bedrooms and 4 baths), (2 master ensuites upstairs with decks and rooftop patio. 2)#18 Selig Av is a large studio 3) #26 Selig Av #A = 2br/1bath 4)#B 3br/2bath with very tall, vaulted ceiling 5) 2br/1b w/ vaulted ceiling 6) #D is a lockoff of C, its a 1br/1b separate alleyway entrance can be combined with C to make 3/2. All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc )
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FeaturesGeneralSewer Public Sewer
Roof Membrane
Garage Spaces 0
Security Features Carbon Monoxide Detector(s) Fire Alarm Fire Sprinkler - Wet Fire Sprinkler System Security Lights Smart Cameras Smart Locks Smoke Detector(s)
Construction Materials Concrete Stone Stucco
Year Built 1960
Stories Count 2
Property Subtype Multi Family
Tax Year 2024
Current Use Multi-Family
Gross Income 188000
County Montrose
Operating Expense 64300
Property Type Commercial Sale
Attached Garage N
Building Features Bike Share Laundry Storage Wi-Fi
Status Active
City Montrose
Number Of Units Total 6
Carport Spaces 0
Listing Terms Cash Conventional Owner Will Carry
Tax Annual Amount 3622
Leasable Area 7000
Structure Type Low Rise (1-3)
Standard Status Active
Occupancy Type Tenant
Cap Rate 7.66
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ExteriorLot Features Corner Lot
Water Source Public
Total Parking 12
Lot Size Area 7400
Building Area Total 7318
Road Surface Type Paved
Road Frontage Type Public
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* Excluded FeaturesList ByTelluride Realty LlcBroker
Affordability Calculator
- Monthly Principal & Interest
- $9,352
- Monthly Property Taxes
- $302
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% 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.
Learn more about how to save NearbyCommerical listings in Montrose, CO
Average List Price $1,499,000
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
Trends Information provided by ATTOM Data Solutions.
242254 Elementary School
242425 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 11/4/2025 | $1,499,000 | | Listed Price |