16 East Washington Street

Rutland, VT 05701

$345,000
Price
7
Beds
4
Baths
2,968 Sq. Ft.
$116 / Sq. Ft.
2,968
Sq. Ft.
$116
per Sq. Ft.

Under Contract

Under Contract

Description

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...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.
  1. Listed by Michael Gilman • 3GEN Real Estate Inc

Property Details for 16 East Washington Street

Zoning
MSP
LISTING UPDATED: 12/21/2024 06:55 PM

Property Details for 16 East Washington Street

StatusUnder Contract
MLS #5022485
Days on Market31
Taxes$7,164 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1900
Lot Size0.22 AC / 9,583 SF
CountyRutland County

Building Information for 16 East Washington Street

Stories2Residences4Year Built1900Building Size-Lot Size0.22 AC / 9,583 SF

Property Information for 16 East Washington Street

Summary
Location and General Information
  • City: Rutland City
  • County: VT-Rutland
  • Latitude: 43.606152000001003
  • Longitude: -72.970082000000005
  • Road Frontage: Yes
  • Seasonal: Unknown
  • State: VT
  • Street Designation: Street
  • Zip Code: 05701
Taxes and HOA Information
  • SPAN Number: 54017014082
  • Tax Year: 24
  • Taxes TBD: No
Parking
  • Garage: No
  • Driveway: Gravel
Property
Lot Information
  • Lot - Sqft: 9583.0
  • Lot Features: Other
  • Lot Size Acres: 0.22
  • Road Frontage Length: 75.0
  • Square Feet Apx Finished Above Grade: 2968.0
  • Square Feet Apx Finished AG Source: Appraiser
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Total: 4495.0
  • Square Feet Apx Total Finished: 2968.0
  • Square Feet Apx Unfinished Above Grade: 0.0
  • Square Feet Apx Unfinished Below Grade: 1527.0
  • Square Feet Apx Unfinished BG Source: Appraiser
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Flood Zone: No
  • Foundation: Brick, Stone
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1900
Utilities
  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Water Source: Public
  • Utilities: Cable
  • Internet: Internet - Cable
Interior and Exterior Features
Exterior Features
  • Construction Materials: Wood Frame
  • Roof: Shingle - Asphalt
Interior Features
  • Basement: Yes
  • Basement Access Type: Walkout
  • Basement Description: Unfinished
  • Total Full Baths: 4
  • Heating: Oil, Baseboard
  • Cooling: None
  • Total Stories: 2
Multi Family
Multi-Family Information
  • Total Units: 4
  • Total 1 BR Units: 1
  • Total 2 BR Units: 3
  • Total 3+ BR Units: 0
Unit Information
Unit 1
  • Unit 1 Baths: 1
  • Unit 1 Bedrooms: 2
  • Unit 1 Apx Sqft: 852.0
  • Unit 1 Rooms: 4
Unit 2
  • Unit 2 Baths: 1
  • Unit 2 Rooms: 4
  • Unit 2 Apx Sqft: 676.0
  • Unit 2 Bedrooms: 2
Unit 3
  • Unit 3 Baths: 1
  • Unit 3 Rooms: 3
  • Unit 3 Apx Sqft: 765.0
  • Unit 3 Bedrooms: 1
Unit 4
  • Unit 4 Rooms: 4
  • Unit 4 Baths: 1
  • Unit 4 Apx Sqft: 676.0
  • Unit 4 Bedrooms: 2

Property History for 16 East Washington Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 16 East Washington Street

Taxable ValueLand$67,500Additions$117,400Total$184,900
Home Facts
Beds0Lot Size9,583 SqFtStyleSingle Family ResidenceCountyRUTLANDAPN(170) 14082

Schools near 16 East Washington Street

This home is within Rutland City School District.
Rating
School
Type
Grades
Distance
Rutland Intermediate School
Public - 3 to 6
Rutland Middle School
Public - 7 to 8
Rutland Senior High School
Public - 9 to 12
Rutland Northeast Primary School
Public - PK to 2
Rating
School
Distance
Rutland Intermediate School
Public3 to 6

Rutland Middle School
Public7 to 8

Rutland Senior High School
Public9 to 12

Rutland Northeast Primary School
PublicPK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing 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 Site 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 12/26/2024 10:49 AM