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603-643-3942
5 Old Nugget Alley
Hanover, NH 03755

$525,000

MLS# 5037586
3590 sq.ft. Bedroom | 0 Bathroom
Multi Family
38 Cottage Street Rutland City VT 		 
$525,000 | $146 per sq.ft. | MLS# 5037586 A 7  Unit Multi Family Home, 38 Cottage Street Rutland City VT With 7 - One Bedroom Units

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 		    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

FEATURES AND DETAILS

CONSTRUCTION: Wood Frame | Price Per SQ.FT. 146.24 | Year Built: 1884
 LAND DESCRIPTION: LOT DESCRIPTION: Other
Livable Space: 3590
Above Grade Sq.Ft.: 3590
Below Grade Sq.Ft.: 0
Foundation: Stone
Heating: Oil
Cooling: None
Electric: 100 Amp
Style: Multi-Family
Roof: Shingle - Asphalt
Water: Public
Sewer: Public
Lot size: 0.15 acres
Zoned: MR-1
Surveyed: Unk
Flood Zone: No
Seasonal: Unk
Road Frontage: 50
Driveway: Paved
ADDITIONAL INFORMATION
Taxes $6,269  | Assesed Value $0 in
SCHOOLS
  • 23062230
  • 23062229
  • 23062228
  • 23062227
  • 23062263
  • 23062261
  • 23062267
  • 23062262
  • 23062264
  • 23062265
  • 23062260
  • 23062248
  • 23062259
  • 23062233
  • 23062249
  • 23062255
  • 23062234
  • 23062235
  • 23062236
  • 23062237
  • 23062251
  • 23062252
  • 23062254
  • 23062257
15 Buck Rd. Hanover, NH 03755 603-643-3942

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