Great investment opportunity, Well maintained property in Rutland town ( Center Rutland) this property consists of two buildings, Front building with 10 units and the back building is 4 units , Total of 14 units all one bedroom apartments, Sits on a large parcel over 1.20 +- Acres , Plenty of parking with a loop driveway Convenient for tenants, Vinyl siding and vinyl replacement windows, The pro forma Numbers on this property with 100% occupancy is As follows
Gross revenues $197, 400 A year With expenses just around $60,000 per year, not including management , regular maintenance calls, Vacancy rateAnd debt service, Current CAP Rate Above 10.8%
This property is offered with another 14 unit property in Castleton ($1,260,000) as 28 units package
11 units are occupied currently the other 3 are in transition .
Two Heating boilers service the front building and one boiler Services the back building.
His property is convenient to the city amenities .