This 6-unit fully-leased and cashflowing property is in great condition. With gross rents of $66,000, expenses (including property taxes) of $14,538, and net income of $51,462, this investment property shows a 12.1% cap rate. With stable, long-term tenants on annual leases and fully-separated utilities in 5 of the 6 units, just about everything is taken care of. Built in 1970, the property is modern and easy to maintain. Two spacious 2-bedroom units feature charming hardwood floors, while two 1-bedrooms include beautiful large picture windows and recently-installed mini splits, and two top-floor studios offer a full range of apartment options. Located just minutes away from downtown Brattleboro and all that it has to offer, where rental demand is sky-high, the property hasn't had a vacancy in years. A spacious lot allows for off-street parking for all six tenants, and nearby attractions include hiking trails, the Brattleboro farmers market, and the ski hill. Recent upgrades to the property include new propane furnaces and hot water heaters, insulation and stucco, and new bath fans and vents. At a 10% cap rate with low rents and the potential to add easily installed coin-op laundry in the common area for additional income, this would be fantastic for any investor. Nice turn key building that doesn't need anything to start earning money. See it today.
Operating Expenses : Heat,Insurance,Maintenance,Other,Snow Removal,Trash,Utilities,Water/Sewer
Annual Expenses
Taxes: $7,591
Income
Gross Income | $66,000
NetIncome | $51,462
Appliances : Water Heater – Gas | Water Heater – Separate
Construction: Wood Frame | Wood Siding
Year Built: 1970
Style: Apartment Building
Floors | Stories: 2.5
No. Elevators:
Total Sq.Ft. Finished: 2880
Above Grade Sq.Ft.: 1728
Below Grade Sq.Ft.: 1152
Basement: Finished
Foundation size 24x48.
Foundation: Concrete
Roof: Shingle - Asphalt
Seasonal: No
Heating: Propane | Gas Heater | Individual | Mini Split
Cooling: Individual | Mini Split
Electric: Circuit Breaker(s)
Trash: Owner | Private
Utilities: Cable - At Site | Telephone At Site
Electric Meters: 6
Gas_Meters: 6
Water: Public
Sewer: Public
Land Information
Level
Lot size: 0.37 acres
Zoned: SC / S)
Surveyed: Unk
Flood Zone: No
Road Frontage: 79
Driveway: Gravel