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!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
