$295,000
77 River ST Rutland City, VT 05701
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Listed by Michael Gilman • 3GEN Real Estate Inc
$295,000
Est. payment /mo
6 BD
4 BA
2,332 SqFt
Under Contract
77 River ST Rutland City, VT 05701
UPDATED:
09/16/2024 12:39 PM
Key Details
Property Type Multi-Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,332 sqft
Price per Sqft $126
MLS Listing ID 5014031
Bedrooms 6
Full Baths 4
Construction Status Existing
Year Built 1900
Annual Tax Amount $4,366
Tax Year 24
Lot Size 6,969 Sqft
Acres 0.16
Property Description
High cash flow 4plex, updated and professionally managed, located in Rutland. Listed at close to a 10% cap and a Net Operating Income over $31K, with significant upside from undermarket rents. This combination of value-add and high cash flow is rare to find. Perfect for a high cash flow investment or live in one unit for free while covering mortgage + expenses and enjoying additional cash flow. One Unit has been left open for showings or immediate owner occupancy. The building has been professionally managed and renovated. The investment is projected to yield over a 13% year 1 cash on cash return based on current numbers, and cash returns can go to 23%+ per year if rents are brought to market. This allows the new owner to realize significant returns from cash flow vs speculation. 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.
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning MR-1
Rooms
Basement Entrance Walkout
Basement Full
Interior
Heating Oil
Cooling None
Exterior
Utilities Available Cable
Roof Type Shingle - Asphalt
Building
Story 2
Foundation Brick, Stone
Sewer Public
Construction Status Existing
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