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Listed by Hughes Group Team of Casella Real Estate
Here is a great 5-unit multifamily in Rutland City that has been very well maintained over the years. All units have 1 bedroom with a kitchen, living room, and full bathroom. The property offers plenty of off-street parking, a detached garage, and is vinyl sided for easy maintenance. Conveniently located within walking distance to downtown. The property currently has a CAP rate of 8%, but this is using past rental income. Units 3, 4, and 5 are now vacant and rental amounts were well below market rate. If those three units were at market rate the projected new cap rate would be just over 13%. The two occupied units are also below market rent leaving even more room to increase the income potential. Unit 3 had a very long-term tenant and is in need of a total rehab, but once complete all units would be in great condition!

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