List Price: $460,000 | $119 per sq.ft. Multi Family A 6 Unit Multi Family Home
With 4 One Bedroom Units , 1 - Two Bedroom Units ,0 - Three Bedroom Units Listed Wednesday Aug 14, 2024 | MLS# 5009711


Opportunity to purchase a high cash flow 6 unit turnkey building in the heart of Rutland at an impressive 11% cap (13% cap at proforma market rents). The building has been professionally managed, fully renovated, and a new owner can step into to this turnkey investment, projected to yield over a 20% cash on cash return during the hold period based on current numbers, with significant upside at sale. With a gross potential income upwards of $80K, this fully occupied property has a diverse unit mix of studios, 1br and 2br apartments - allowing it to appeal to a broad range of residents. Situated on a street with ample parking and outdoor space for residents to enjoy, the property rents quick when there is a rare vacancy. The building has undergone weatherization and energy efficiency work resulting in lower heating season bills than your average multifamily. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire real estate ahead of the historic multibillion dollar development occurring nearby at Killington, which is already resulting in organic property appreciation and increased interest in the area from investors. The property is available as a package with other buildings across VT for a buyer looking for a larger high cash flow turnkey multifamily portfolio.
Annual Expenses

Taxes: $7,214
Income

UNIT 1

Beds: 2
Baths: 1
Rooms: 0

UNIT 3

Beds: 2
Baths: 1

UNIT 4

Beds: 1
Baths: 1

UNIT 5

Beds: 1
Baths: 1
Rooms: 0

UNIT 6

Beds: 1
Baths: 1
Construction: Masonry | Wood Frame
Year Built: 1900
Style: Multi-Family
Floors | Stories: 2.5
No. Elevators:
Total Sq.Ft. Finished: 5159
Above Grade Sq.Ft.: 3869
Basement: Full
Foundation: Concrete | Stone
Roof: Shingle - Asphalt
Seasonal: Unk
Heating: Hot Water
Cooling: None
HeatFuel: Oil
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Sidewalks
Lot size: 0.18 acres
Zoned: RB)
Surveyed: Unk
Flood Zone: No
Roads: Paved
Road Frontage: 85
Driveway: Gravel


Taxes $7,214
Assesed Value Not Reported
Schools

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