Rutland City, VT 05701,60 Elm ST
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Rutland City, VT 05701,60 Elm ST
Rutland City, VT 05701,60 Elm ST
Rutland City, VT 05701,60 Elm ST
Rutland City, VT 05701,60 Elm ST
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The Scoville Foley Team

The Scoville Foley Team

+1(207) 885-0500
Listed by Michael Gilman • 3GEN Real Estate Inc
$ 365,000
Est. payment /mo
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Under Contract

60 Elm ST Rutland City, VT 05701

7 Beds

4 Baths

3,220 SqFt


UPDATED:

10/14/2024 12:55 PM

Key Details

Property Type Multi-Family

Listing Status Under Contract

Purchase Type For Sale

Square Footage 3,220 sqft

Price per Sqft $113

MLS Listing ID 5017046

Bedrooms 7

Full Baths 4

Construction Status Existing

Year Built 1884

Annual Tax Amount $6,636

Tax Year 2024

Lot Size 7,405 Sqft

Acres 0.17

Property 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.

Location

State VT

County Vt-rutland

Area Vt-Rutland

Zoning Residential

Rooms

Basement Entrance Walk-up

Basement Unfinished

Interior

Heating Oil

Cooling None

Exterior

Utilities Available Cable

Roof Type Shingle - Asphalt

Building

Story 2

Foundation Stone

Sewer Public

Construction Status Existing


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The Scoville Foley Team

+1(207) 885-0500

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60 Elm ST