Listing courtesy of Michael Gilman, 3GEN Real Estate Inc Phone: 802-227-7327
46 Summer Street, Rutland City, VT, 05701
5 beds
5 Full baths
1884
Colonial
2,936 sqft
Immaculate, renovated, 100% occupied, high cash-flow 5 unit multi-family, priced to sell at an “as is” 11% 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. 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
Status:
Active
Type:
Multi-family
Units:
5
Zoning:
MR-1
Frontage:
70
Heating:
Baseboard
Cooling:
None
Basement:
Unfinished
Acreage:
0.17
Est. Taxes:
$4,808
Lot Description:
City Lot
MLS #:
5013866