List Price: $525,000 | $146 per sq.ft. Multi Family A 7 Unit Multi Family Home
With 7 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Wednesday Apr 23, 2025 | MLS# 5037586
With 7 One Bedroom Units , 0 - Two Bedroom Units ,0 - Three Bedroom Units
Date Listed Wednesday Apr 23, 2025 | MLS# 5037586
To see this Listing
Address: 38 Cottage Street Rutland City VT
Listed by Michael Gilman 3GEN Real Estate Inc
Description:
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 7plex 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.
Annual Expenses
Taxes: $6,269
Taxes: $6,269
Income
UNIT 1 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Rent : 1100.00 Monthly
UNIT 2 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Rent : 1100.00 Monthly
UNIT 3 INFORMATION
Beds: 1
Baths: 1
Rent : 1100.00 Monthly
UNIT 4 INFORMATION
Beds: 1
Baths: 1
Rent : 1100.00 Monthly
UNIT 5 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Rent : 1150.00 Monthly
UNIT 6 INFORMATION
Beds: 1
Baths: 1
Rent : 1000.00 Monthly
UNIT 7 INFORMATION
Beds: 1
Baths: 1
Rooms: 0
Rent : 1175.00 Monthly
Construction: Wood Frame
Year Built: 1884
Style: Multi-Family
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 4588
Above Grade Sq.Ft.: 3590
Basement: Unfinished
Foundation: Stone
Year Built: 1884
Style: Multi-Family
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 4588
Above Grade Sq.Ft.: 3590
Basement: Unfinished
Foundation: Stone
Roof: Shingle - Asphalt
Seasonal: Unk
Seasonal: Unk
Heating: Oil
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:
Water: Public
Sewer: Public
Land Information
Other
Lot size: 0.15 acres
Zoned: MR-1)
Surveyed: Unk
Flood Zone: No
Road Frontage: 50
Driveway: Paved
Other
Lot size: 0.15 acres
Zoned: MR-1)
Surveyed: Unk
Flood Zone: No
Road Frontage: 50
Driveway: Paved
Additional Information
Taxes $6,269
Assesed Value Not Reported
Taxes $6,269
Assesed Value Not Reported
Schools
