128 Granger Street , Rutland City, VT 05701
Rutland City, VT 05701
Description
This well cared for turnkey duplex features two renovated spacious two-bedroom units and an NOI of ~$20K. Property is perfect for someone looking to occupy one unit and have property expenses and mortgage offset by renting the other. If held as investment, this duplex has the potential for 15%+ annual cash on cash returns, and significant upside at sale (without taking into account any expected organic price appreciation). The property has been professionally managed with recent updates and renovations across interior units and exteriors. One unit has been kept vacant prior to listing for potential owner-occupancy, or keep both units rented-for strong cash flow (vacant unit can be rented for a minimum of $1,400 as a condition to close). The 2x 2br apartments are spacious with an ideal layout, and access to the oversized backyard and ample parking. Efficient footprint and recent renovations keep operating expenses low! Property is walking distance from downtown shops and restaurants giving residents access to all Rutland has to offer. This is also an excellent opportunity to enter the market ahead of the historic multibillion dollar development taking place around Killington nearby, which is already starting organic appreciation in property values. This property can be also be purchased with additional buildings in the area for someone looking to scale. Listing agent is a member of the LLC that owns the property.
Details
| MLS# | 5005506 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1915 |
| Days On Site | 53 |
| Listing Provided By | 3GEN Real Estate Inc | Michael Gilman |
Features
| SQ Feet | 2,719 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 2 |
| Zoning | MR-1 |
| Acreage | 0.16 |
Market Activity 05701
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Learn More About This Property
| State | VT |
|---|---|
| County | Rutland |
| City | Rutland City |
| Zip Code | 05701 |
| Listing VS Median (in 05701) | |
Price: $214,900 low | high Med: $299,000 SqFt: 2,719 low | high Med: 2,310 $ / SqFt: $79 low | high Med: $129 On Site: 53 low | high Med: 13 | |