Well maintained 100% occupied 7 unit located in central Rutland neighborhood. This 7 unit property was recently renovated and is being listed at a 11% cap and an annual Net Operating Income of ~$58K (12% cap without management fees). A new owner can step into to this turnkey investment, projected to yield over a 18% cash on cash return starting year 1 based on current numbers, and therefor realize significant returns from cash-flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 7plex 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. Listing Broker is a member of the LLC selling the property.
Construction: Wood Frame
Year Built: 1884
Style: Multi-Family
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 4588
Above Grade Sq.Ft.: 3590
Basement: Unfinished
Foundation: Stone
Roof: Shingle - Asphalt
Seasonal: Unk
Heating: Oil
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Other
Lot size: 0.15 acres
Zoned: MR-1)
Surveyed: Unk
Flood Zone: No
Road Frontage: 50
Driveway: Paved