60 Elm Street

Rutland, VT 05701

$330,000
Last Sold Price
7
Beds
4
Baths
3,220 Sq. Ft.
$102 / Sq. Ft.
3,220
Sq. Ft.
$102
per Sq. Ft.

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 a 10% cap rate based on current numbers. Units has been renovated and building has undergone weatherization resulting in lower than average annual heating bills. 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 to realize...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 a 10% cap rate based on current numbers. Units has been renovated and building has undergone weatherization resulting in lower than average annual heating bills. 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 to realize significant returns from cash-flow vs speculation. Rents can be brought to market to achieve north of a 24% cash on cash return by year 2. 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 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.
  1. Listed by Michael Gilman • 3GEN Real Estate Inc

Sold By Ski Country Real Estate

Property Details for 60 Elm Street

Zoning
Residential
LISTING UPDATED: 12/10/2024 03:12 PM

Property Details for 60 Elm Street

StatusClosed
MLS #5017046
Days on Market11
Taxes$6,636 / 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 60 Elm Street

Stories2Residences4Year Built1884Building Size-Lot Size0.17 AC / 7,405 SF

Property Information for 60 Elm Street

Summary
Location and General Information
  • City: Rutland City
  • County: VT-Rutland
  • Latitude: 43.612212000001001
  • Longitude: -72.977435999999997
  • Road Frontage: Yes
  • Seasonal: No
  • State: VT
  • Street Designation: Street
  • Zip Code: 05701
Taxes and HOA Information
  • SPAN Number: 54017012551
  • Tax Year: 2024
  • Taxes TBD: No
Parking
  • Garage: No
  • Driveway: Paved
Property
Lot Information
  • Lot - Sqft: 7405.0
  • Lot Features: Corner
  • Lot Size Acres: 0.17
  • Road Frontage Length: 150.0
  • Square Feet Apx Finished Above Grade: 3220.0
  • Square Feet Apx Finished AG Source: Other
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Total: 4324.0
  • Square Feet Apx Total Finished: 3220.0
  • Square Feet Apx Unfinished Above Grade: 0.0
  • Square Feet Apx Unfinished Below Grade: 1104.0
  • Square Feet Apx Unfinished BG Source: Other
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
  • Roof: Shingle - Asphalt
Interior Features
  • Basement: Yes
  • Basement Access Type: Walk-up
  • Basement Description: Unfinished
  • 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 Rental Amt Freq: Monthly
  • Unit 1 Rental Amount: $1,250.00
Unit 2
  • Unit 2 Baths: 1
  • Unit 2 Rental Amt Freq: Monthly
  • Unit 2 Bedrooms: 2
  • Unit 2 Rental Amount: $1,075.00
Unit 3
  • Unit 3 Baths: 1
  • Unit 3 Rental Amt Freq: Monthly
  • Unit 3 Bedrooms: 1
  • Unit 3 Rental Amount: $1,100.00
Unit 4
  • Unit 4 Rental Amt Freq: Monthly
  • Unit 4 Baths: 1
  • Unit 4 Bedrooms: 2
  • Unit 4 Rental Amount: $1,300.00

Property History for 60 Elm 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 60 Elm Street

Taxable ValueLand$57,000Additions$114,300Total$171,300
Home Facts
Beds0Lot Size7,405 SqFtStyleSingle Family ResidenceCountyRUTLANDAPN(170) 12551

Schools near 60 Elm 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 2025 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 03/13/2025 09:22 PM