MLS Number 4787094
- Year Built 1988
- Acreage 2.47
- NOI 268285
Highland Meadows, a 2019 renovated, market-rent 32 unit apartment complex (30 2BR/2BA & 2 1BR/1BA) located just east of the Otter Creek overlooking the City of Rutland. Boasting new or updated high-efficiency windows, doors, siding, trim, flooring, cabinets, appliances, tanks & Heating systems. Convenient to downtown, yet nestled in a quiet residential country setting, Highland Meadows allows for a fully renovated and stabilized investment with an outstanding CAP Rate and no additional CapEx expenses for years. Recently converted back to Market-Rent units, Highland Meadows has strong historical occupancy since built in 1988. This development is professionally managed and provides an outsized cash-on-cash return for passive or active investors. Opportunity Zone allows for possible significant tax advantages.
Listed by Marek Kovac and Paul William Carroccio of TPW Real Estate