15 Woodstock Ave - Apartments FOR SALE


Rutland, VT 05701
$460,000 USD
802-552-6564
15 Woodstock Ave, Rutland, VT for Sale
$460,000 USD
Apartments - FOR SALE
1/13
null | 10.76% Cap Rate

15 Woodstock Ave
Rutland, VT 05701


OVERVIEW

Opportunity to purchase a high cash flow 6 unit turnkey building in the heart of Rutland at an impressive 11% cap (13% cap at proforma market rents). The building has been professionally managed, fully renovated, and a new owner can step into to this turnkey investment, projected to yield over a 20% cash on cash return during the hold period based on current numbers, with significant upside at sale. With a gross potential income upwards of $80K, this fully occupied property has a diverse unit mix of studios, 1br and 2br apartments - allowing it to appeal to a broad range of residents. Situated on a street with ample parking and outdoor space for residents to enjoy, the property rents quick when there is a rare vacancy. The building has undergone weatherization and energy efficiency work resulting in lower heating season bills than your average multifamily. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire real estate 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.

FOR SALE DETAILS

PRICE

$460,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

6

PRICE/UNIT

$76,667

CAP RATE

10.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

RB

APN/PARCEL ID

540-170-17867

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.