371 River Street,Montpelier, VT 05602
Montpelier, VT 05602
Description
Unique property with many possibilities. It has amazing road frontage and exposure with approx. 300 feet of road frontage. Live in the home and have the storage units pay your expenses. Or rent the house to tenants or a business to add to the income from the storage units. This property just went through a change of use permit (attached) from Commercial to Residential zoning. The sellers filed a grievance and the assessment was reduced $130,000. for 2025-26. The very well maintained 1934 three-bedroom, one bathroom cape home has been getting $2,600./month with all utilities included. The home has been an office building for several businesses in the past. The home has hardwood floors, a main floor bedroom, living room, mud room, den, dining room, closet with stackable laundry unit, kitchen with back door access and an updated bathroom. The house does not have direct entry to the basement that is accessed by a private locked door in the lower parking area of the circular paved driveway. There are 4 inside locked storage units in the basement that bring in $240/month total. Next to the house, there are 11 storage units in a single building and they are of varying sizes. That building currently generates $755/month. The leases are month to month. All units are likely to be charging under market rates, but there are many long term renters. No current tenant.
Details
| MLS # | 5040674 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | (10) Active - Active |
| Year | 1934 |
| Days On Site | 57 |
| Listing Provided By | BHHS Vermont Realty Group/Montpelier | Martha Lange |
Features
| Basement | Y |
|---|---|
| Zoning | Residential, Eastern Gtwy |
| Acreage | 1.12 |
Interior
| Heating | Hot Air |
|---|
Exterior
| Roof | Metal |
|---|---|
| Foundation Details | Concrete |
| Lot Features | Near Shopping, Near Public Transportatn, City Lot, Corner Lot, Leased, Near Hospital |
Parking
| Parking Features | Off Street, Paved, Parking Spaces 6+ |
|---|
Utilities
| Utilities | Cable Connected |
|---|---|
| Electric | Circuit Breakers |
| Sewer | Public Sewer |
Taxes
| Tax Assessed Value | 393300 |
|---|---|
| Tax Year | 2024 |
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Learn More About This Property
| State | VT |
|---|---|
| County | Washington |
| City | Montpelier |
| Zip Code | 05602 |
| Area | VT Washington |