Here is a great 5-unit multifamily in Rutland City that has been very well maintained over the years. All units have 1 bedroom with a kitchen, living room, and full bathroom. The property offers plenty of off-street parking, a detached garage, and is vinyl sided for easy maintenance. Conveniently located within walking distance to downtown. The property currently has a CAP rate of 8%, but this is using past rental income. Units 3, 4, and 5 are now vacant and rental amounts were well below market rate. If those three units were at market rate the projected new cap rate would be just over 13%. The two occupied units are also below market rent leaving even more room to increase the income potential. Unit 3 had a very long-term tenant and is in need of a total rehab, but once complete all units would be in great condition!
For more information call one of our Agents today at Ski Country Real Estate at 1(800) 877-5111.
Listed by Hughes Group Team of Casella Real Estate
- MLS #
- 4934188
- Bedrooms
- 5
- Baths
- 5
- Ft2
- 3,195
- Lot Acres
- 11,761.00
- Lot Type
- City Lot
- Tax
- $5,677
- Year Built
- 1900
- Style
- Multi-Family
- Garage Size
- 1
- Heat
- Baseboard, Hot Water
- Fuel
- Oil
- Siding
- Vinyl Siding
- Roof
- Slate
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