Great investment opportunity, Well maintained property in Rutland town ( Center Rutland) this property consists of two buildings, Front building with 10 units and the back building is 4 units , Total of 14 units all one bedroom apartments, Sits on a large parcel over 1.20 +- Acres , Plenty of parking with a loop driveway Convenient for tenants, Vinyl siding and vinyl replacement windows, The pro forma Numbers on this property with 100% occupancy is As follows Gross revenues $197, 400 A year With expenses just around $60,000 per year, not including management , regular maintenance calls, Vacancy rateAnd debt service, Current CAP Rate Above 10.8% This property is offered with another 14 unit property in Castleton ($1,260,000) as 28 units package 11 units are occupied currently the other 3 are in transition . Two Heating boilers service the front building and one boiler Services the back building. His property is convenient to the city amenities .
Operating Expenses : Heat,Insurance,Other,Snow Removal,Trash,Utilities,Water/Sewer
Construction: Wood Frame | Vinyl Siding
Year Built: 1987
Style: Multi-Family
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 14500
Above Grade Sq.Ft.: 12500
Basement: Unfinished
Roof: Asphalt Shingle
Seasonal: No
Heating: Baseboard
Cooling: None
Electric: Circuit Breaker(s)
Utilities: Cable | Telephone Available
Electric Meters:
Water: Public
Sewer: Public
Land Information
Country Setting | Landscaped
Lot size: 1.22 acres
Zoned: Residential)
Surveyed: Unk
Flood Zone: No
Road Frontage: 106
Driveway: Gravel