1 year on rocket

147 Main, Montrose, CO, 81401

$1,575,000

Home List Price

$10,000*

Closing Credit

9 Full Baths
6,740 SqFt
$234/SqFt
Multi

Location

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147 Main, Montrose$1,575,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
MLS #808930
Lot Size0.14 Acres
StatusActive

About 147 Main

132k net NOI 2023 /190k gross 14 bedroom/10 bath, Income producing Multi-Family on Main St, Montrose. Corner lot, all in one building, w/ multiple uses, near Telluride. **long term normal income would be ~11,000+ a month if long vs STR. Over 7,300+ feet, 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). 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. 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 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 June, only 3 empty nights out of a possible 180 =.5% (half of 1 percent) ***Sold fully furnished minus some PP and all art. ***8.3%+ CAP rate based on list price and NOI 23' ***Full monitored new fire suppression system (a 70k+ value) *** Low taxes of only 3,100 a year! *** NO HOA, street access on 3 sides. *** ROOF access is easy and can be upgraded for amenities.

Property Details

Property Features

Property Information:

  • Living Area: 6,740 SqFt

Listing Office:

  • Office Name: Telluride Realty, LLC
  • Listing Agent: Scott Elkins

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 9

Lot Features

Lot Information:

  • Lot Size: 0.14 Acres

School Info

Assigned Schools Information:

  • Montrose High School, Public District Grades 9-12
  • Northside Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: Corner of Selig and Main st, near Museum.

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,575,000
  • Price Per SqFt: $234/SqFt
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Housing Market Comparison

See how this home compares to others in Montrose, CO.

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Montrose, CO

City

Med. List Price

$559K

Med. Price/SqFt

$297

Avg. Days On Market

101

# of Sold Homes

1

147 Main vs Montrose

376 DAYS ON ROCKET

+275 Days

$1,575,000

+$1.0M More

$234/SqFt

-$64 Less

KEY TAKEAWAY

This property is $1.0M more than the Median List Price and $64/SqFt less than other homes in Montrose, CO.

Based on homes listed in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #808930

Listing Office:

  • Office Name: Telluride Realty, LLC
  • Listing Agent: Scott Elkins

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Equal Housing PUBLISHERS NOTICE: All information is deemed reliable but is not guaranteed and should be independently verified. All real estate advertised herein is subject to the US Federal Fair Housing Act of 1968 and the Colorado Fair Housing Act, which makes it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. Please check with your local government agency for more information.
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Last updated on: 11/5/2024, 7:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1901307
2
/10

  • Northside Elementary School

  • 528 N Uncompahgre Ave

  • 0.43 miles

  • Public District Grades KG-5

High School

school-card-donut-1901308
5
/10

  • Montrose High School

  • 600 S Selig Ave

  • 0.45 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $30,410. Typical income of Montrose, CO residents is less than $35k annually. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Colorado›Montrose County›Montrose›81401›147 Main

This home is located at 147 Main in Montrose, CO and zip code 81401. This 6,740 square foot home sits on a 0.14 acre lot. Features: 9 bathrooms. It has been listed on Rocket Homes since October 26, 2023 and is currently priced at $1,575,000.

Between September 2024 and October 2024, Montrose, CO real estate market has seen increase in the number of listings by 29.3%. Listings spent 101 days on the market in October 2024, and had a median list price of $559,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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