60 Elm StreetRutland City, VT 05701MLS Number 5017046

  • Price: $365,000
  • Est. Mortgage of $/month
  • 40 Days on Market
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$
%
$/month over payments
Federal 30-year interest rate: 6.79% last updated on Nov 7, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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Pending
60 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 0570160 Elm Street Rutland City VT 05701
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  • 0.17Acreage
  • 1884Year Built
  • 3,220Square Feet
  • 2024Tax Year

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Listed by Michael Gilman of 3GEN Real Estate Inc
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.

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Tax Information

  • Tax Year2024

Building

  • Year Built1884
  • Units4
  • Unit 1 Bath1
  • Unit 1 Bedrooms2
  • Unit 2 Bath1
  • Unit 2 Bedrooms2
  • Unit 3 Bath1
  • Unit 3 Bedrooms1
  • Unit 4 Bath1
  • # of 1 Bedrooms1
  • # of 2 Bedrooms3
  • BasementUnfinished
  • FoundationStone

Basic Information

  • StatusPEN
  • List Price$365,000
  • Date Price Change10/02/2024
  • MLS Number5017046
  • MLS StatusPending

Property

  • Acreage0.17
  • Parking Spaces
  • Square Feet3,220
  • APX Fin AG Sqft3,220
  • Road Frontage150
  • RoadsPaved

Amenities

  • PricePerSqFt113.35

Location

  • TownRutland City
  • StateVT
  • Zip05701
  • CountyRutland
  • ZoningResidential
  • Flood Zone Y/NNo

Exterior

  • RoofShingle - Asphalt

Utilities

  • Heat FuelOil
  • Heat SystemBaseboard
  • ElectricCircuit Breaker(s)
  • SewerPublic
  • UtilitiesCable

Other

  • Taxes$6,636
  • Seasonal Y/NNo
  • Date Listed10/02/2024
  • Unit 1 Deposit$1,250
  • Unit 2 Rent Amount$1,075
  • Unit 3 Rent Amount$1,100
  • Unit 4 Rent amount$1,300
  • View Count7
Ault Commercial Realty
Ault Commercial Realty
Office: 802.773.0600
PO Box 6306
Rutland, VT 05702
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Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated November 11, 2024 2:38 AM EST

 

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