60 Elm Street Rutland City, VT SOLD

$330,000
Beds 7
Square Footage 3,220
Acres 0.17
Photo of 60 Elm Street Rutland City VT 05701

Sold By

Katie McFadden, Ski Country Real Estate



Description

Immaculate 4plex located a desirable quaint residential Rutland neighborhood This 100% occupied building has 3x2br and 1x1br, a net operating income north of $36K, and is being listed at a 10% cap rate based on current numbers. Units has been renovated and building has undergone weatherization resulting in lower than average annual heating bills. 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 to realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve north of a 24% cash on cash return by year 2. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 4plex 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.


Listed by 3GEN Real Estate Inc, Michael Gilman
Sold by Ski Country Real Estate, Katie McFadden

Details

MLS 5017046
Price $330,000
Status Closed
DOM 64 days
Type Multi-Family
Style Colonial
Beds 7
Square Feet 3,220 sqft
Lot Size 0.17 acres
Year Built 1884

Lot & Building Features

Utilities Cable
Construction Wood Frame
Cooling None
Heating Baseboard, Oil
Sewer Public
Tax Year 2024
Water Public
Basement Description Unfinished
Foundation Stone
Lot Description Corner
Roof Shingle - Asphalt
Garage No

Unit Features

Unit 1 Baths 1
Unit 1 Bedrooms 2
Unit 1 Rental Amount 1250.00
Unit 1 Rental Amt Freq Monthly
Unit 2 Baths 1
Unit 2 Bedrooms 2
Unit 2 Rental Amount 1075.00
Unit 2 Rental Amt Freq Monthly
Unit 3 Baths 1
Unit 3 Bedrooms 1
Unit 3 Rental Amount 1100.00
Unit 3 Rental Amt Freq Monthly
Unit 4 Baths 1
Unit 4 Bedrooms 2
Unit 4 Rental Amount 1300.00
Unit 4 Rental Amt Freq Monthly

Map

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Financing

$
20%
1%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.


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