Multi-Family for Sale: 77 River Street, Rutland City, VT 05701 SOLD

6 beds
2,332 sqft
$291,000
$291,000
77 River Street, Rutland City, VT 05701 SOLD
6 beds
2,332 sqft
$291,000
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Selling Price: $291,000
Original List Price: $295,000
Sold at 98.6% of list price
Sold Date: 11/04/2024

Type Multi-Family
Style Colonial
Beds 6
Square Feet 2,332 sqft
Lot Size 0.16 acres
Year Built 1900

City Rutland City
County Rutland

MLS 5014031
Status Closed
DOM 4 days
High cash flow 4plex, updated and professionally managed, located in Rutland. Listed at close to a 10% cap and a Net Operating Income over $31K, with significant upside from undermarket rents. This combination of value-add and high cash flow is rare to find. Perfect for a high cash flow investment or live in one unit for free while covering mortgage + expenses and enjoying additional cash flow. One Unit has been left open for showings or immediate owner occupancy. The building has been professionally managed and renovated. The investment is projected to yield over a 13% year 1 cash on cash return based on current numbers, and cash returns can go to 23%+ per year if rents are brought to market. This allows the new owner to realize significant returns from cash flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire real estate ahead of the historic multibillion dollar development occurring nearby at Killington, which, combined with rapidly falling rates, 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.

Lot & Building Features

Utilities Cable
Construction Vinyl Exterior
Cooling None
Heat Source Oil
Heating Baseboard
Sewer Public
Tax Year 24
Water Public
Basement Description Full
Foundation Brick, Stone
Lot Description Other
Roof Shingle - Asphalt
Garage No

Unit Features

Unit 1 Baths 1
Unit 1 Bedrooms 2
Unit 2 Baths 1
Unit 2 Bedrooms 1
Unit 3 Baths 1
Unit 3 Bedrooms 2
Unit 4 Baths 1
Unit 4 Bedrooms 1

Price History of 77 River Street, Rutland City, VT

Date Name Price Difference
09/12/2024 Listing Price $291,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

Map of 77 River Street, Rutland City, VT

Location Map Street View
Photo of Jonathan Benton
Direct: 978-566-9045
Office
PO Box 101
Merrimack, NH 03054
603-787-3155
Listed by 3GEN Real Estate Inc, Michael Gilman
Sold by Four Corner Properties LLC, Lori Hurley
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6.75%
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PrimeMLS

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: 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. Data last updated 11/10/2024