46 Summer Street , Rutland City, VT 05701
Rutland City, VT 05701
Description
Immaculate, renovated, 100% occupied, high cash-flow 5-unit multi-family, priced to sell at an as is at a 12% cap. The building has been professionally managed with no deferred maintenance and is in mint condition. A new owner can step into to this turnkey investment, projected to yield over a 17% cash on cash return starting year 1 based on current numbers. This allows a new owner to realize significant returns from cash-flow vs speculation. With a Net Operating Income of $50K, 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, and the property is rarely vacant. 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, combined with rapidly falling rates, is already resulting in organic property appreciation and increased interest in the area from investors. Reach out directly for walkthrough videos. 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
Details
| MLS# | 5013866 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | (30) Under Contract - Pending |
| Year | 1884 |
| Days On Site | 130 |
| Listing Provided By | 3GEN Real Estate Inc | Michael Gilman |
Features
| SQ Feet | 4,438 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 5 |
| Zoning | MR-1 |
| Acreage | 0.17 |
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: $425,000 low | high Med: $319,000 SqFt: 4,438 low | high Med: 5,337 $ / SqFt: $96 low | high Med: $60 On Site: 130 low | high Med: 208 | |