16 E Washington Street , Rutland City, VT 05701
Rutland City, VT 05701
Description
Immaculate 4plex located a desirable quaint residential Rutland neighborhood. This 100% occupied building has 3x2br and 1x1br, a net operating income north of $36K, and is being listed at north of a 10.5% cap rate based on current numbers. Units and exteriors have been renovated in the last year. A new owner can step into to this turnkey investment, projected to yield over a 13% cash on cash return (75% financing assumed but some banks will go north of 90%) starting year 1 based on current numbers to realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve closer to a 20% cash on cash return. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 4plex ahead of the historic multibillion dollar development occurring nearby at Killington, which, combined with Fed easing, 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
| Mls | 5022485 |
|---|---|
| Listing Type | For Sale |
| Subtype | Resale |
| Status | (30) Under Contract - Pending |
| Year | 1900 |
| Days On Site | 15 |
| Listing Provided By | 3GEN Real Estate Inc | Michael Gilman |
Features
| Sq Feet | 4,495 |
|---|---|
| Basement | Y |
| Storys | 2 |
| Units | 4 |
| Zoning | MSP |
| Acreage | 0.22 |
Market Activity 05701
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| State | VT |
|---|---|
| County | Rutland |
| City | Rutland City |
| Zip Code | 05701 |
| Listing VS Median (in 05701) | |
Price: $345,000 low | high Med: $289,500 SqFt: 4,495 low | high Med: 6,138 $ / SqFt: $77 low | high Med: $49 On Site: 15 low | high Med: 65.5 | |