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Listed by Michael Gilman • 3GEN Real Estate Inc
$325,000
Est. payment /mo
8 BD
4 BA
4,032 SqFt
New
48 Forest ST Rutland City, VT 05701
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UPDATED:
01/31/2025 07:24 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,032 sqft
Price per Sqft $80
MLS Listing ID 5027605
Bedrooms 8
Full Baths 4
Construction Status Existing
Year Built 1900
Annual Tax Amount $7,705
Tax Year 2025
Lot Size 3,049 Sqft
Acres 0.07
Property Description
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.
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning Res 1
Rooms
Basement Entrance Walkout
Basement Unfinished
Interior
Cooling None
Exterior
Utilities Available Cable
Roof Type Shingle - Asphalt
Building
Story 2
Foundation Slab - Concrete
Sewer Public
Architectural Style Multi-Family
Construction Status Existing
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