6 months on rocket

147 Main, Montrose, CO, 81401

$1,599,750

Home List Price

$10,000*

Closing Credit

9 Full Baths
6,740 SqFt
$237/SqFt
Multi
Schools Nearby

Location

Image provided by Mapbox

Get An Agent. Get A Mortgage.

Save BIG.

Rocket Homes logo

147 Main, Montrose$1,599,750

Buyer Closing Credits

$10,000*

1.25% Loan Amount

Rocket Homes logo

Still Have Questions? Contact Us.

Contact Us Phone Number1 (855) 200-2001

Property Highlights

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

About 147 Main

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 6.3% - 8.4% depending on year or rolling month) ***OPPORTUNITY ZONES*** Over.7,300+ feet w/ 5 multi-family apartments included with the front huge commercial two-story section for a total of 6 rentals. Airbnb is allowed and very successful. (since its zoned B-1, you are at a massive advantage if rules come down the line) (6 of the 6 units are now AIRBNB as of early 2022) Located in the Opportunity Zone! Located on Main St Montrose CO, near Telluride Ski Resort and the Ouray Hot Springs. Walking location, right downtown with coffee/grocery/bars /distillery /CO-working /food trucks all within 2 blocks. Tenants can pay electric (5 meters) + (2 gas meters) / owner pays sewer/water/trash. 2-3 extra storage units for the rentals also, (2inside, 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 and new barnwood and granite and stainless and high ceilings in most units. Tenant wide/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 units is 147 main st , a huge 2000 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 small studio #26 Selig Av is A) 2br/1bath, #B) 3br/2bath with very tall, vaulted ceiling ,#C)2br/1b with vaulted ceiling also #26 D is a lock off rear 1/1 and on alley separate entrance. The income has increased with the Airbnb strategy in LATE 20-21, so plenty of history to see, (see links for active Airbnb listings) Examples: November 2022' income was net $11,000+, December 2022 NET income was $12,500+ Jan 2023 was NET $ 12,500+ as examples of actual rent trends and history. Projecting 170,000-$189,000+ for 2023 in Gross rents. Some ways to increase revenue, (roof top amenities, hot tub, bike racks, grills and more amenities. or 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. ***7.4%+ CAP rate based on list price and NOI 23' ***Over 166k in Gross income in 2022 and growing in 2023**** ***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: $1,599,750
  • Price Per SqFt: $237/SqFt
House and calculator

What can I afford?

Understand what home price range makes sense for your budget.

Housing Market Comparison

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

Map thumbnail provided by MapBox

Montrose, CO

City

Med. List Price

$589.2K

Med. Price/SqFt

$298

Avg. Days On Market

97

147 Main vs Montrose

192 DAYS ON ROCKET

+95 Days

$1,599,750

+$1.0M More

$237/SqFt

-$61 Less

KEY TAKEAWAY

This property is $1.0M more than the Median List Price and $61/SqFt less than other homes in Montrose, CO.

Based on homes listed in April 2024

MLS Details

MLS Information:

  • MLS Number: #808930

Listing Office:

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

IDX Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network. Real estate listings held by another brokerage firm include that company name. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought

The information contained in this publication is subject to change without notice. COLORADO REAL ESTATE NETWORK (CREN) MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. CREN SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

Equal HousingAll 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. COLORADO REAL ESTATE NETWORK will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

All Rights Reserved Worldwide. COPYRIGHT 2024 by COLORADO REAL ESTATE NETWORK, 16 S Cascade, Montrose, CO 81401 USA

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental. Real Estate listings held by other companies contain that company's name. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of Colorado Real Estate Network (CREN).
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/5/2024, 10:20:37 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$8,052

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,863

Powered By

Rocket Mortgage

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-6715448
4
/10

  • Northside Elementary School

  • 528 N Uncompahgre Ave

  • 0.43 miles

  • Public District Grades KG-5

High School

school-card-donut-6715449
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. Most Montrose, CO residents have annual incomes less than $35k. The majority of families are 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 $1,599,750.

Between March 2024 and April 2024, Montrose, CO real estate market has seen increase in the number of listings by 41.7%. The median list price of listings available in April 2024 was $589,250, while the average time on the real estate market was 97 days.

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

More Resources