List Price: $589,000 | $119 per sq.ft. Multi Family
Price Change! Reduced by $21,000 down 4% on March 30th 2026
A 3 Unit Multi Family Home
With 0 One Bedroom Units , 1 - Two Bedroom Units ,2 - Three Bedroom Units
Date Listed Monday Feb 16, 2026 | MLS# 5076867
Price Change! Reduced by $21,000 down 4% on March 30th 2026
A 3 Unit Multi Family Home
With 0 One Bedroom Units , 1 - Two Bedroom Units ,2 - Three Bedroom Units
Date Listed Monday Feb 16, 2026 | MLS# 5076867
To see this Listing
Address: 1 Nickwackett Street Rutland City VT
Listed by Erin Shimp Engel & Volkers Okemo Phone: 802-345-3913
Description:
Located in the heart of Historic Rutland City, this fully renovated and income-producing triplex offers a rare turnkey investment opportunity. Featuring 11 bedrooms and 6 full bathrooms, the property is configured for high-efficiency, dormitory-style living and comfortably accommodates up to 20 occupants. The building has been thoughtfully updated and styled for function, durability, and long-term performance. Recent improvements include reconfigured layout including electrical, plumbing/ heating systems; with newly renovated bathrooms, new laminate flooring/ carpet throughout, new stainless steel appliances, and brand-new 2 coin-operated laundry facilities. All furnishings convey with the sale, allowing for a seamless transition and continued revenue from day one. Currently operating with rental contracts with steady year-over-year income in place, this property provides immediate cash flow and stability for investors. The layout and capacity make it ideal for workforce housing, corporate housing, group accommodations, or other shared-living arrangements. Positioned in desirable Historic Rutland City, (TIF District) close to downtown amenities, transit, employers, and area attractions, this property combines strong rental demand with a fully operational setup. This is a true plug-and-play multifamily investment with established income, updated systems, and minimal startup costs. Operating Expenses : Maintenance,Other,Utilities
Annual Expenses
Taxes: $5,950
Taxes: $5,950
Income
UNIT 1 INFORMATION
Beds: 3
Baths: 2
Rooms: 0
Rent : 1975.00 Monthly
Lease Term : Other
Signed Lease : Yes
Status : Leased
UNIT 2 INFORMATION
Beds: 2
Baths: 1
Rooms: 0
Rent : 2000.00 Monthly
Lease Term : Other
Signed Lease : Yes
UNIT 3 INFORMATION
Beds: 6
Baths: 3
Rent : 5225.00 Monthly
Lease Term : Other
Signed Lease : Yes
Status : Leased
Construction: Aluminum Siding
Year Built: 1900
Style: Apartment Building
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6701
Above Grade Sq.Ft.: 4959
Basement: Partial
Year Built: 1900
Style: Apartment Building
Floors | Stories: 2
No. Elevators:
Total Sq.Ft. Finished: 6701
Above Grade Sq.Ft.: 4959
Basement: Partial
Exterior Color: Grey
Roof: Asphalt Shingle
Seasonal: No
Roof: Asphalt Shingle
Seasonal: No
Heating: Baseboard
Cooling: Wall AC Units
Electric: Underground
Utilities: Cable at Site | Propane
Electric Meters:
Water: Public
Sewer: Public
Cooling: Wall AC Units
Electric: Underground
Utilities: Cable at Site | Propane
Electric Meters:
Water: Public
Sewer: Public
Land Information
City Lot
Lot size: 0.14 acres
Zoned: Residential / Commercial)
Surveyed: No
Flood Zone: No
Road Frontage: 67
Driveway: Dirt
City Lot
Lot size: 0.14 acres
Zoned: Residential / Commercial)
Surveyed: No
Flood Zone: No
Road Frontage: 67
Driveway: Dirt
Additional Information
Easement - Unknown
Taxes $5,950
Assesed Value Not Reported
Easement - Unknown
Taxes $5,950
Assesed Value Not Reported
Schools
School District: Rutland City School District
School District: Rutland City School District
