$525,000
 $2,818 forsale estimated payment Sourced by Back At You

129 Curtis Avenue , Rutland City, VT 05701

Rutland City, VT 05701

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Description

Immaculate 6plex located a desirable quaint residential Rutland neighborhood. This rarely vacant building has 5x2br and 1x1br, a net operating income north of $60K, and is being listed at a ~11.5% cap rate based on current numbers. Units has been renovated and building has undergone weatherization resulting in lower-than-average annual heating bills. A new owner can step into to this turnkey investment, projected to yield over a 17% cash on cash return starting year 1 based on current numbers to realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve close to 20% cash on cash return by year 2. One unit has been left open for showings or immediate owner occupancy, but the building has traditionally been 100% occupied. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 6plex ahead of the historic multibillion dollar development occurring nearby at Killington, which, combined with rapidly falling rates, 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. Listing Broker is a member of the LLC selling the property.

Details

Mls5021984
Listing TypeFor Sale
StyleAttachd
SubtypeResale
Status(30) Under Contract - Pending
Year1969
Days On Site28
Listing Provided By3GEN Real Estate Inc | Michael Gilman

Features

Sq Feet4,600
Storys3
Units6
ZoningMR-1
Acreage0.36

Market Activity 05701



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Listings Checked: 7 minutes ago
StateVT
CountyRutland
CityRutland City
Zip Code05701
Listing VS Median (in 05701)
Price:
$525,000
low | high
Med:
$285,500
95.619047619048% of Average
SqFt:
4,600
low | high
Med:
3,406
75.967391304348% of Average
$ / SqFt:
$114
low | high
Med:
$108
55.495912707419% of Average
On Site:
28
low | high
Med:
96.000000
29.166666666667% of Average
Sourced by Back At You
Listing Updated: November 26, 2024 at 9:19:06 AM PST