38 Cottage St - Apartments FOR SALE


Rutland, VT 05701
$525,000 USD
802-552-6564
38 Cottage St, Rutland, VT for Sale
$525,000 USD
Apartments - FOR SALE
1/31
null | 11.07% Cap Rate

38 Cottage St
Rutland, VT 05701


OVERVIEW

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 7-plex 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.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

7

PRICE/UNIT

$75,000

CAP RATE

11.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1884

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

MR-1

APN/PARCEL ID

540-170-12688

ASK ABOUT THIS PROPERTY

Michael Gilman3Gen Real EstateMore Info
802-552-6564

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Michael Gilman3Gen Real EstateMore Info
802-552-6564

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.