Bought with Hughes Group Team • Casella Real Estate
$445,000
$445,000
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5,140 SqFt
SOLD DATE : 10/11/2024
Key Details
Sold Price $445,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,140 sqft
Price per Sqft $86
MLS Listing ID 5005476
Sold Date 10/11/24
Construction Status Existing
Year Built 1920
Annual Tax Amount $5,756
Lot Size 0.450 Acres
Acres 0.45
Property Description
Opportunity to purchase a high cash flow 6-unit turnkey building in the heart of Rutland at an impressive 12% cap. The building has been professionally managed, fully renovated, and a new owner can step into to this turnkey investment, projected to yield over a 19% cash on cash annual average 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 serene 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. Please download the OM for more information about this property. The property is also 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.
Location
State VT
County Vt-rutland
Area Vt-Rutland
Rooms
Basement Entrance Interior
Basement Crawl Space
Interior
Heating Gas - LP/Bottle, Oil
Cooling None
Exterior
Utilities Available Cable
Roof Type Shingle - Asphalt
Building
Story 2.5
Foundation Brick, Concrete
Sewer Public
Construction Status Existing
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