List Price: $345,000 | $116 per sq.ft. Multi Family A 4 Unit Multi Family Home
With 1 One Bedroom Units , 3 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Monday Nov 18, 2024 | MLS# 5022485
With 1 One Bedroom Units , 3 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Monday Nov 18, 2024 | MLS# 5022485
To see this Listing
Address: 16 E Washington Street Rutland City VT
Listed by Michael Gilman 3GEN Real Estate Inc
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.
Annual Expenses
Taxes: $7,164
Taxes: $7,164
Income
UNIT 1 INFORMATION
Beds: 2
Baths: 1
Rooms: 4
Sq.Ft.: 852
UNIT 2 INFORMATION
Beds: 2
Baths: 1
Rooms: 4
Sq.Ft.: 676
UNIT 3 INFORMATION
Beds: 1
Baths: 1
Rooms: 3
Sq.Ft.: 765
UNIT 4 INFORMATION
Beds: 2
Baths: 1
Rooms: 4
Sq.Ft.: 676
Construction: Wood Frame
Year Built: 1900
Style: Colonial
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 4495
Above Grade Sq.Ft.: 2968
Basement: Unfinished
Foundation: Brick | Stone
Year Built: 1900
Style: Colonial
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 4495
Above Grade Sq.Ft.: 2968
Basement: Unfinished
Foundation: Brick | Stone
Roof: Shingle - Asphalt
Seasonal: Unk
Seasonal: Unk
Heating: Oil | Baseboard
Cooling: None
Electric: Circuit Breaker(s)
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: Circuit Breaker(s)
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Other
Lot size: 0.22 acres
Zoned: MSP)
Surveyed: Unk
Flood Zone: No
Roads: Paved
Road Frontage: 75
Driveway: Gravel
Other
Lot size: 0.22 acres
Zoned: MSP)
Surveyed: Unk
Flood Zone: No
Roads: Paved
Road Frontage: 75
Driveway: Gravel
Additional Information
Taxes $7,164
Assesed Value Not Reported
Taxes $7,164
Assesed Value Not Reported
Schools
