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Listed by Michael Gilman • 3GEN Real Estate Inc
$425,000
Est. payment /mo
5 BD
5 BA
2,936 SqFt
Under Contract
46 Summer ST Rutland City, VT 05701
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UPDATED:
11/06/2024 11:24 PM
Key Details
Property Type Multi-Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,936 sqft
Price per Sqft $144
MLS Listing ID 5013866
Bedrooms 5
Full Baths 5
Construction Status Existing
Year Built 1884
Annual Tax Amount $4,807
Tax Year 24
Lot Size 7,405 Sqft
Acres 0.17
Property 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
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning MR-1
Rooms
Basement Entrance Interior
Basement Unfinished
Interior
Heating Oil
Cooling None
Exterior
Utilities Available Cable
Roof Type Shingle - Asphalt
Building
Story 2
Foundation Stone
Sewer Public
Construction Status Existing
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