REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Michael Gilman • 3GEN Real Estate Inc
$ 525,000
Est. payment /mo
New
38 Cottage ST Rutland City, VT 05701
7 Beds
7 Baths
3,590 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,590 sqft
Price per Sqft $146
MLS Listing ID 5037586
Bedrooms 7
Full Baths 7
Construction Status Existing
Year Built 1884
Annual Tax Amount $6,268
Tax Year 2025
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Well maintained 100% occupied 7 unit located in central Rutland neighborhood. This 7 unit property was recently renovated and is being listed at a 11% cap and an annual Net Operating Income of ~$58K (12% cap without management fees). A new owner can step into to this turnkey investment, projected to yield over a 18% cash on cash return starting year 1 based on current numbers, and therefor realize significant returns from cash-flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 7plex 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.
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning MR-1
Rooms
Basement Entrance Interior
Basement Unfinished
Interior
Cooling None
Exterior
Utilities Available Cable
Roof Type Shingle - Asphalt
Building
Story 2
Foundation Stone
Sewer Public
Architectural Style Multi-Family
Construction Status Existing
