$1,499,750
$41K PRICE DROP

147 E Main St Unit 147 Main , 18 N Se Montrose, CO 81401

Estimated payment $8,178/month

Total Views 914
14 Beds
9 Baths
7,314 Sq Ft
$205 Price per Sq Ft

About This Home

This home is located at 147 E Main St Unit 147 Main , 18 N Se, Montrose, CO 81401 and is currently priced at $1,499,750, approximately $205 per square foot. This property was built in 1960. 147 E Main St Unit 147 Main , 18 N Se is a home located in Montrose County with nearby schools including Northside Elementary School, Centennial Middle School, and Montrose High School.

Listing Agent

Scott Elkins

Telluride Realty, LLC Listed on: 08/07/2025

Co-Listing Agent

Mark Simpson

Telluride Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,100

Year Built

  • Built in 1960

Lot Details

  • 6,098 Sq Ft Lot

Home Design

  • Property Attached

Interior Spaces

  • 9 Full Bathrooms
  • 7,314 Sq Ft Home
  • Multi-Level Property
  • Partially Furnished

Schools

  • Pomona K-5 Elementary School
  • Centennial 6-8 Middle School
  • Montrose 9-12 High School

Listing and Financial Details

  • Assessor Parcel Number 376728421005

Community Details

Overview

  • 6 Units

Building Details

  • 5 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $62,681
  • Gross Income $177,591
  • Net Operating Income $114,910

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,100

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Estimated Total Acres: 0.14
  • Class: Multifamily
  • Em Deposit: 50000
  • Em Holder: land title
  • Fronts: Main st
  • Legal Lot Block: 147 E MAIN ST 10 N SELIG AVE 18 N SELIGAVE 26 N SELIG AVE #A 26 N SELIG AVE #B26 N SELIG AVE #C : SELIGS ADDN Block: 81Lot: 23 AND:- Lot: 24 S: 28 T: 49 R: 9
  • Parcel Id Number: 376728421005
  • Price Per Sq Ft: 205.05
  • Property Attached: Yes
  • Sale/Rent: For Sale
  • Cap Rate Percent: 7.46
  • Multi Story: Yes
  • Property Mngr: owner ( no mngt ex in CAP
  • Total Number Electric Meters: 5
  • Total Number Gas Meters: 3
  • Total Number Water Meters: 1
  • Type: Sixplex
  • Total Taxes Dollar: 3100
  • Year Built: 1960
  • Prop Description Remarks: 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. 7.46 CAP rate (w/all expenses except mngt) 177k++ of Gross income 2024 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). 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 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. ***7.46%+ 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.
  • Unit Suite Number: 147 Main , #18 N Selig , #26 N selig A,B C
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Estimated Total Sq Ft: 7314
  • Full Bathrooms: 9
  • Half Bathrooms: 0
  • Bathrooms Quarter: 0
  • Bathrooms Three Quarters: 0
  • Total Bathrooms: 9
  • Main Level Sq Ft: 7314
  • Total Office Den: 0

Utilities

  • Electric Supplier: Delta-Montrose Electric Association
  • Gas Supplier: Black Hills Energy
  • Sewer Supplier: City of Montrose
  • Water Supplier: City of Montrose

Schools

  • High School: Montrose 9-12

Rental Info

  • Furnished: Partially Furnished

Multi Family

  • No. of Units: 6
  • Gross Annual Expenses: 62681
  • Gross Scheduled Income: 177591
  • Net Operating Income: 114910

Tax Info

  • Tax Year: 2023

MLS Schools

  • Elementary School: Pomona K-5
  • Middle School: Centennial 6-8

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/03/2025 10/03/25 For Sale $1,499,750 0.0% $205 / Sq Ft
09/09/2025 09/09/25 Pending -- -- --
09/02/2025 09/02/25 Price Changed $1,499,750 -2.7% $205 / Sq Ft
08/07/2025 08/07/25 For Sale $1,540,750 -- $211 / Sq Ft
Source: Colorado Real Estate Network (CREN)

Source: Colorado Real Estate Network (CREN)

MLS Number: 827434

Colorado Real Estate Network (CREN)
Colorado Montrose County Montrose 81401

147 E Main St Unit 147 Main , 18 N Se, Montrose, CO

For Sale

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Scott Elkins
Listing Agent
Scott Elkins
Section Image
Telluride Realty, LLC
(970) 463-2811