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Listing courtesy of PRIME_MLS / Michael Gilman / 3GEN Real Estate Inc

16 E Washington

Rutland City, VT 05701

– beds
– baths
2,968 sqft
9,583 sqft lot
$116 per sqft
1900 build
– on site

Immaculate 4plex located a desirable quaint residential Rutland neighborhood. This 100% occupied building has 3x2br and 1x1br, a net operating income north of $36K, and is being listed at north of a 10.5% cap rate based on current numbers. Units and exteriors have been renovated in the last year. A new owner can step into to this turnkey investment, projected to yield over a 13% 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. 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, which, combined with Fed easing, 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.

Listing courtesy of PRIME_MLS / Michael Gilman / 3GEN Real Estate Inc

Last checked: Checking… • Last updated Nov 19, 2024 •

MLS# 5022485 —

The Building

Year Built:

1900
Pre-Construction:

No
Construction Status:

Existing
Construction Materials:

Wood Frame
Architectural Style:

Colonial
Roof:

Shingle - Asphalt
Foundation:

Brick, Stone
Total Stories:

2
Total Units:

4
Approx SqFt Total:

4495
Approx SqFt Total Finished:

2,968 Sqft
Approx SqFt Finished Above Grade:

2,968 Sqft
Approx SqFt Finished Below Grade:

0 Sqft
Approx SqFt Unfinished Below Grade:

1527
Approx SqFt Unfinished Building Source:

Appraiser
Approx SqFt Finished Above Grade Source:

Appraiser

Interior

Basement:

Yes
Basement Description:

Unfinished
Basement Access Type:

Walkout

Location

Latitude:

43.606152000001003
Longitude:

-72.970082000000005

The Property

Property Class:

Multi-Family
Seasonal:

Unknown
Lot SqFt:

9,583 Sqft
Lot Acres:

0 Sqft
Zoning:

MSP
Driveway:

Gravel
Roads:

Paved
Road Frontage:

Yes
Road Frontage Length:

75 Sqft
Lot Features:

Other

Listing Agent

Contact info:

Taxes

Tax Year:

24
Taxes TBD:

No
Tax - Gross Amount:

$7,163.56

Beds

Bedrooms - Level 4:

4
Total 2 Bedroom Units:

3

Baths

Total Full Baths:

4
Three Quarter Baths:

4
Unit 1 Baths:

1
Unit 2 Baths:

1

The Listing

Price Per SqFt:

116.24
Foreclosed/Bank-Owned/REO:

No

Heating & Cooling

Heating:

Baseboard
Heat Fuel:

Oil

Utilities

Utilities:

Cable
Sewer:

Public
Electric:

Circuit Breaker(s)
Water Source:

Public

The Community

Covenants:

Unknown

Extra Units

Unit 1 Rooms:

4
Unit 1 Bedrooms:

2
Unit 1 Approx SqFt:

852 Sqft
Unit 2 Bedrooms:

2
Unit 2 Approx SqFt:

676
Unit 3 Rooms:

3
Unit 3 Bedrooms:

1
Unit 3 Baths:

1
Unit 3 Approx SqFt:

765 Sqft
Unit 4 Bedrooms:

2
Unit 4 Baths:

1

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Sale history

Date	Event	Source	Price	% Change
11/18/24 Nov 18, 2024	Listed / Active	PRIME_MLS	$345,000	56.8% (35.8% / YR)
4/19/23 Apr 19, 2023		PRIME_MLS	$220,000
2/17/23 Feb 17, 2023		PRIME_MLS	$220,000

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This multifamily located in Rutland, VT 05701 is currently for sale for $345,000. 16 E Washington is a 2,968 square foot multifamily with – beds and – baths that has been on Estately for 3 days. This multifamily is in the attendance area of Rutland Senior High School, Rutland Intermediate School, and Rutland Middle School.

Listing Courtesy of: PRIME_MLS and 3GEN Real Estate Inc.

Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.