16 E Washington StreetRutland City, VT 05701MLS Number 5022485

  • Price: $345,000
  • Est. Mortgage of $/month
  • 22 Days on Market
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Federal 30-year interest rate: 6.69% last updated on Dec 5, 2024
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Pending
16 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 0570116 E Washington Street Rutland City VT 05701
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  • 0.22Acreage
  • 4Bathrooms
  • 1900Year Built
  • 2,968Square Feet

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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 north of a 10.5% cap rate based on current numbers. Units and exteriors have been renovated in the last year. A new owner can step into to this turnkey investment, projected to yield over a 13% cash on cash return (75% financing assumed but some banks will go north of 90%) starting year 1 based on current numbers to realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve closer to a 20% cash on cash return. 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 Fed easing, 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 Year24

Building

  • Year Built1900
  • Building ConstructionWood Frame
  • Units4
  • Unit 1 Bath1
  • Unit 1 Bedrooms2
  • Unit 1 Total Rooms4
  • Unit 2 Bath1
  • Unit 2 Bedrooms2
  • Unit 2 Total Rooms4
  • Unit 3 Bath1
  • Unit 3 Bedrooms1
  • Unit 3 Total Rooms3
  • Unit 4 Bath1
  • Unit 4 Total Rooms4
  • # of 1 Bedrooms1
  • # of 2 Bedrooms3
  • Bathroom4
  • Total Baths4
  • BasementUnfinished
  • FoundationBrick, Stone

Basic Information

  • StatusPEN
  • List Price$345,000
  • Date Price Change11/18/2024
  • MLS Number5022485
  • MLS StatusPending

Property

  • Acreage0.22
  • GarageNo
  • Parking Spaces
  • Lot DescriptionOther
  • Square Feet2,968
  • APX Fin AG Sqft2,968
  • Road Frontage75
  • AreaVT-Rutland

Other

  • Taxes$7,163.56
  • Seasonal Y/NUnknown
  • Date Listed11/18/2024
  • View Count2

Location

  • TownRutland City
  • StateVT
  • Zip05701
  • CountyRutland
  • ZoningMSP
  • Address16 E Washington Street
  • Flood Zone Y/NNo

Exterior

  • RoofShingle - Asphalt

Utilities

  • Heat SystemOil, Baseboard
  • ElectricCircuit Breaker(s)
  • SewerPublic
  • UtilitiesCable

Amenities

  • PricePerSqFt116.24
Ault Commercial Realty

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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 December 10, 2024 9:08 AM EST

 

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