Multi-Family for Sale: 16 E Washington Street, Rutland City, VT 05701

7 beds
4 full baths
2,968 sqft
$345,000
$345,000
16 E Washington Street, Rutland City, VT 05701
7 beds
4 full baths
2,968 sqft
$345,000
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Price:
$345,000

Type Multi-Family
Style Colonial
Beds 7
Total Baths 4 full baths
Square Feet 2,968 sqft
Lot Size 0.22 acres
Year Built 1900
Taxes Paid $7,163

City Rutland City
County Rutland

MLS 5022485
Status Active
DOM 4 days
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.

Lot & Building Features

Utilities Cable
Construction Wood Frame
Cooling None
Heating Baseboard
Sewer Public
Tax Year 24
Taxes Paid $7,163
Water Public
Basement Description Unfinished
Foundation Brick, Stone
Lot Description Other
Roof Shingle - Asphalt
Garage No

Unit Features

Unit 1 Apx Sqft 852
Unit 1 Baths 1
Unit 1 Bedrooms 2
Unit 1 Rooms 4
Unit 2 Apx Sqft 676
Unit 2 Baths 1
Unit 2 Bedrooms 2
Unit 2 Rooms 4
Unit 3 Apx Sqft 765
Unit 3 Baths 1
Unit 3 Bedrooms 1
Unit 3 Rooms 3
Unit 4 Apx Sqft 676
Unit 4 Baths 1
Unit 4 Bedrooms 2
Unit 4 Rooms 4

Price History of 16 E Washington Street

Date Name Price Difference
11/18/2024 Listing Price $345,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

Comparable Properties Sold Near By

Low
$290,000
$97 / sqft
Average
$305,500
$100 / sqft
High
$322,500
$103 / sqft

Address City Zip Beds Baths Price Sq. Ft. $/SQFT Sold Date
This Listing Rutland City 05701 7 4.0 $345,000 2,968 $116 N/A
25 North Street Rutland City 05701 6 4.0 $322,500 3,120 $103 07/22/2024
18 Church Street Rutland City 05701 6 4.0 $290,000 2,984 $97 08/26/2024
190 Crescent Street Rutland City 05701 8 4.0 $304,000 3,054 $100 10/21/2024

Map of 16 E Washington Street, Rutland City, VT

Location Map Street View
Photo of Cheryl Brown
Direct: 603-929-1100
Office
655 Wallis Road.
Rye, NH 03870
603-964-7000
Listed by 3GEN Real Estate Inc, Michael Gilman
$
20%
2.0763942028986%
6.75%
$
$
$
Monthly Payment
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

16 E Washington Street (MLS #5022485) is a multi-family listing located in Rutland City, VT. This multi-family listing is 2,968 sqft and on a lot of 9,583 sqft (or 0.22 acres) with 7 bedrooms, 4 baths and is 124 years old. This property was listed on 11/18/2024 and has been priced for sale at $345,000.

The 6 bedroom multi-family listing at 18 Church Street in Rutland City is nearby and sold for $290,000 on 08/26/2024. Another nearby 6 bedroom multi-family listing, 25 North Street in Rutland City sold for $322,500 on 07/22/2024.

Nearby zip codes are 05701 4822, 05737, 05759, 05765 and 05777. This property neighbors other cities such as Clarendon, Mendon, Proctor, Rutland Town and West Rutland.

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 11/22/2024