48 Summer St - Apartments FOR SALE


Rutland, VT 05701
$325,000 USD
802-552-6564
48 Summer St, Rutland, VT for Sale
$325,000 USD
Apartments - FOR SALE
1/19
null | 10.48% Cap Rate

48 Summer St
Rutland, VT 05701


OVERVIEW

Well maintained oversized 4plex located a desirable quaint residential Rutland neighborhood. This 100% occupied building has 1x3br 2x2br and 1x1br, a net operating income north of $34,000 and is being listed at north of a 10.5% cap rate based on current numbers. High rental demand and property has a waitlist. A new owner can step into to this turnkey investment, projected to yield over a 14% cash on cash return (75% financing assumed but some banks will go north of 90%) starting year 1 based on current numbers to realize significant returns from cash-flow vs speculation. There is significant value-ad as rents can be brought to market to achieve closer to a 20% cash on cash return. 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, 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

$325,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

4

PRICE/UNIT

$81,250

CAP RATE

10.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

48 Summer St

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

-

APN/PARCEL ID

-

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.