121 Park AvenueRutland City, VT 05701MLS Number 5027607

  • Price: $455,000
  • Est. Mortgage of $/month
  • 15 Days on Market
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%
$/month over payments
Federal 30-year interest rate: 6.89% last updated on Feb 6, 2025
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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Pending
121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701121 Park Avenue Rutland City VT 05701
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  • 0.25Acreage
  • 1989Year Built
  • 2,834Square Feet
  • 25Tax Year

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Listed by Michael Gilman of 3GEN Real Estate Inc
Well maintained 6plex located a desirable quaint residential Rutland neighborhood. This garden style building is rarely vacant building and has 6 1x1br, with an attractive layout and an an entrance to the exterior for each unit. The property a net operating income north of $47K, and is being listed at a ~10.5% cap rate based on the current rent roll and expenses. Units has been renovated and the property has 100% occupancy with a waitlist. A new owner can step into to this turnkey investment, projected to yield over a 14% cash on cash return starting year 1 based on current numbers, and therefor realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve north of a 17% cash on cash return. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 6plex ahead of the historic multibillion dollar development occurring nearby at Killington, which 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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More Info

Tax Information

  • Tax Year25

Building

  • Year Built1989
  • Building ConstructionWood Frame
  • Units6
  • Unit 1 Bath1
  • Unit 1 Bedrooms1
  • Unit 2 Bath1
  • Unit 2 Bedrooms1
  • Unit 3 Bath1
  • Unit 3 Bedrooms1
  • Unit 4 Bath1
  • Unit 5 Baths1
  • Unit 5 Bedrooms1
  • Unit 6 Baths1
  • Unit 6 Bedrooms1
  • # of 1 Bedrooms6
  • FoundationPoured Concrete

Basic Information

  • StatusPEN
  • List Price$455,000
  • Date Price Change01/24/2025
  • MLS Number5027607
  • MLS StatusPending

Property

  • Acreage0.25
  • GarageNo
  • Parking Spaces
  • Lot DescriptionLevel
  • Square Feet2,834
  • APX Fin AG Sqft2,834
  • Road Frontage50
  • AreaVT-Rutland

Other

  • Taxes$7,229.16
  • Seasonal Y/NUnknown
  • Date Listed01/24/2025

Location

  • TownRutland City
  • StateVT
  • Zip05701
  • CountyRutland
  • ZoningMR1
  • Address121 Park Avenue
  • Flood Zone Y/NNo

Exterior

  • RoofShingle - Asphalt

Utilities

  • Heat SystemOil
  • Electric200 Amp
  • SewerPublic
  • UtilitiesCable

Amenities

  • PricePerSqFt160.55
Ault Commercial Realty
Ault Commercial Realty
Office: 802.773.0600
PO Box 6306
Rutland, VT 05702
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Copyright 2025 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 February 8, 2025 12:37 AM EST

 

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