5 Park Street
Property Description
The Governor's Mansion. Capitalize on this rare opportunity! This is an exceptional investment opportunity featuring 19 potential residential apartments and one office space. The Governor's Mansion is a well maintained three story property in the heart of downtown Morrisville, Vermont. Currently generating income from the three car garage, four residential apartments with an owner occupied residence that incorporates dedicated office space. The property has DRB approval for construction of 14 additional residential apartments, creating the opportunity to expand to 19 residential apartments while retaining the existing office space. This property offers a unique opportunity for investors, developers, or an owner occupant to live and work in downtown Morrisville while benefiting from rental income and future development potential. Its central downtown location, within walking distance of village amenities, schools, golf course and hospital, offers convenient access to everyday services and supports the property's long term investment potential. Position your next investment for growth. With existing income, DRB approved expansion potential and a desirable downtown location, the Governor's Mansion offers investors the opportunity to increase rental revenue and build long term value. Property is Broker Owned
Broker Details
Berkshire Hathaway HomeServices Vermont Realty Group (802) 658-5555
MLS ID: 19916
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,125,000 |
| No. of Units: | 6 |
| Year Built: | 1878 |
| Lot Size: | 5,608.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $187,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-NNERENNH-5115565
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