Listing courtesy of Michael Gilman, 3GEN Real Estate Inc Phone: 802-227-7327
38 Cottage Street, Rutland City, VT, 05701
7 beds
1884
Multi-Family
3,590 sqft
Well maintained 100% occupied 7 unit located in central Rutland neighborhood. This 7 unit property was recently renovated and is being listed at a 11% cap and an annual Net Operating Income of ~$58K (12% cap without management fees). A new owner can step into to this turnkey investment, projected to yield over a 18% cash on cash return starting year 1 based on current numbers, and therefor realize significant returns from cash-flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 7plex ahead of the historic multibillion dollar development occurring nearby at Killington, which 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:
7
Zoning:
MR-1
Frontage:
50
Heating:
Oil
Cooling:
None
Basement:
Unfinished
Acreage:
0.15
Est. Taxes:
$6,269
Lot Description:
Other
MLS #:
5037586