$895,000
3180 Franklin ST Brandon, VT 05733
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Listed by Michael Gilman • 3GEN Real Estate Inc
$895,000
Est. payment /mo
7,700 SqFt
Under Contract
3180 Franklin ST Brandon, VT 05733
UPDATED:
09/06/2024 09:30 PM
Key Details
Property Type Multi-Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 7,700 sqft
Price per Sqft $116
MLS Listing ID 5001797
Construction Status Existing
Year Built 1973
Annual Tax Amount $12,453
Lot Size 4.060 Acres
Acres 4.06
Property Description
Rare opportunity to own one of the larger buildings in the charming artisan town of Brandon VT. This high cashflow turnkey 10 unit property is being sold at a 10% cap, with an annualized NOI north of $80K, and consists of a 8plex (8x1br) and Duplex (2x2br) on one tax lot. The property is projected to yield over a 12% annual cash on cash return at current financing rates, and significant upside at sale. Situated on secluded lot away from the main road, with ample parking and outdoor space for residents to enjoy, the property rents quick when there is a rare vacancy. There is also significant upside on rents based on existing and legacy leases per rent roll. Additional value can be added by subdividing the lots and selling the properties individually at exit. Units and buildings have been meticulously cared for and renovated, and held under the same ownership for a decade. A new owner can step in to enjoy the high cash flow and low maintenance expenses The duplex in the back of the property has been fully gut renovated, and the larger 8plex has had updates and renovations across most units. This low maintenance and energy efficient property features its own well and septic, as well as individualized propane heaters per unit - keeping annual costs lower than the average multifamily. Please download the OM for more information. Property is available as a package with other buildings across VT for a buyer looking for a larger portfolio. Listing Broker owns the property.
Location
State VT
County Vt-rutland
Area Vt-Rutland
Zoning RD
Rooms
Basement Entrance Interior
Basement Concrete Floor, Crawl Space, Dirt Floor
Interior
Heating Other
Cooling None
Exterior
Utilities Available Cable, Other, Phone
Roof Type Flat,Membrane,Shingle - Asphalt
Building
Story 2
Foundation Concrete, Slab - Concrete
Sewer Septic
Construction Status Existing
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