46 Summer Street

Rutland, VT 05701

$425,000
Price
5
Beds
5
Baths
2,936 Sq. Ft.
$145 / Sq. Ft.
2,936
Sq. Ft.
$145
per Sq. Ft.

Description

Immaculate, renovated, 100% occupied, high cash-flow 5-unit multi-family, priced to sell at an “as is” at a 12% cap. The building has been professionally managed with no deferred maintenance and is in mint condition. A new owner can step into to this turnkey investment, projected to yield over a 17% cash on cash return starting year 1 based on current numbers. This allows a new owner to realize significant returns from cash-flow vs speculation. With a Net Operating Income of $50K, this fully occupied...Immaculate, renovated, 100% occupied, high cash-flow 5-unit multi-family, priced to sell at an “as is” at a 12% cap. The building has been professionally managed with no deferred maintenance and is in mint condition. A new owner can step into to this turnkey investment, projected to yield over a 17% cash on cash return starting year 1 based on current numbers. This allows a new owner to realize significant returns from cash-flow vs speculation. With a Net Operating Income of $50K, this fully occupied property has a diverse unit mix of studios, 1br and 2br apartments - allowing it to appeal to a broad range of residents, and the property is rarely vacant. 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. Reach out directly for walkthrough videos. 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 46 Summer Street

Zoning
MR-1
LISTING UPDATED: 11/06/2024 11:24 PM

Property Details for 46 Summer Street

StatusUnder Contract
MLS #5013866
Days on Market56
Taxes$4,808 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1884
Lot Size0.17 AC / 7,405 SF
CountyRutland County

Building Information for 46 Summer Street

Stories2Residences5Year Built1884Building Size-Lot Size0.17 AC / 7,405 SF

Property Information for 46 Summer Street

Summary
Location and General Information
  • City: Rutland City
  • County: VT-Rutland
  • Latitude: 43.610712000001001
  • Longitude: -72.982114999999993
  • Road Frontage: Yes
  • Seasonal: Unknown
  • State: VT
  • Street Designation: Street
  • Zip Code: 05701
Taxes and HOA Information
  • SPAN Number: 54017010906
  • Tax Year: 24
  • Taxes TBD: No
Parking
  • Garage: No
  • Driveway: Gravel
Property
Lot Information
  • Lot - Sqft: 7405.0
  • Lot Features: City Lot
  • Lot Size Acres: 0.17
  • Road Frontage Length: 70.0
  • Square Feet Apx Finished Above Grade: 2936.0
  • Square Feet Apx Finished AG Source: Appraiser
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Total: 4438.0
  • Square Feet Apx Total Finished: 2936.0
  • Square Feet Apx Unfinished Above Grade: 0.0
  • Square Feet Apx Unfinished Below Grade: 1502.0
  • Square Feet Apx Unfinished BG Source: Estimated
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Flood Zone: No
  • Foundation: Stone
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1884
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
  • Roads: Paved
  • Roof: Shingle - Asphalt
Interior Features
  • Basement: Yes
  • Basement Access Type: Interior
  • Basement Description: Unfinished
  • Total Full Baths: 5
  • Heat Fuel: Oil
  • Heating: Baseboard
  • Cooling: None
  • Total Stories: 2
Multi Family
Multi-Family Information
  • Total Units: 5
  • Total 1 BR Units: 3
  • Total 2 BR Units: 1
  • Total 3+ BR Units: 0
Unit Information
Unit 1
  • Unit 1 Baths: 1
  • Unit 1 Bedrooms: 1
Unit 2
  • Unit 2 Baths: 1
  • Unit 2 Bedrooms: 0
Unit 3
  • Unit 3 Baths: 1
  • Unit 3 Bedrooms: 1
Unit 4
  • Unit 4 Baths: 1
  • Unit 4 Bedrooms: 2
Unit 5
  • Unit 5 Baths: 1
  • Unit 5 Bedrooms: 1

Property History for 46 Summer 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 46 Summer Street

Taxable ValueLand$40,700Additions$94,200Total$134,900
Home Facts
Beds0Lot Size7,405 SqFtStyleSingle Family ResidenceCountyRUTLANDAPN(170) 10906

Schools near 46 Summer Street

This home is within Rutland City School District.
Rating
School
Type
Grades
Distance
Public - 3 to 6
Public - 7 to 8
Public - 9 to 12
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 Northwest 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 12/22/2024 12:59 AM