$345,000 $116 per sq.ft. Rutland City VT »

Number of Units 4   Total Sq. Ft. 2968  |  Acres: 0.22
New Listing! Monday Nov 18, 2024
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. See MLS Property & Listing Details & 17 images.