26 N Selig , #18 , A B C D

Description

$122, 000+ of NET income yearly! Manage this or absentee owner. This is a great business , backed by great Real Estate !! **Proven history and years of reviews and dedicated income. This is a 6 unit multi family parcel, 2 stories with 2 decks and a rooftop patio. Great rental History with short and long term. 8.8%CAP rate (w/all expenses except Mngt) 177k++ of Gross income 2024 7.8% true CAP rate 14 bedroom/10 bath, 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 easily if long vs STR = $133, 000 with less management/expenses. Over 7, 300+ feet plus 2 covered decks, 6 Total Apartments, fully furnished with great rental history and many repeat visitors. 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). Hotel - Airbnb- Multi Family- Property Management, work from home! 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. #18 Selig Av is a large studio #26 Selig Av: A) 2br/1bath B) 3br/2bath with very tall, vaulted ceiling C) 2br/1b with vaulted ceiling D) 1br/1b separate alleyway entrance can be combined with C to make 3/2. Some ways to increase revenue, (roof top amenities, hot tub, bike racks, grills and more amenities. Add some lofts in B or C as the ceiling is so tall? Low vacancy (as an example out of July, only 3 empty nights out of a possible 180 =.5% (half of 1 percent) Sold fully furnished minus some PP some art. 8.76%+ CAP rate based on list price and NOI 24' Full monitored fire suppression system (code compliant!) Low taxes of only 3, 400 a year! NO HOA, street access on 3 sides. ROOF access is easy and can be upgraded for amenities. All furnishings included, (7 fridges 5 washer dryers, 5 stoves etc ) OZ fund avail due to location in the OZ