75 North St, Rutland, VT 05701

Description

Prime Income Property: 3-Unit Asset in Rutland City!

Looking for a lucrative 3-unit multi-family property in Rutland City? This well-maintained investment at 75 North St has featured consistent capital improvements since 2022 and is fully ready for its next owner.

Unit Breakdown & Property Highlights

Unit 1 (Ground Floor): Spacious 2-bedroom, 1-bath layout featuring generous living space and a private deck.

Units 2 & 3 (Second Floor): Two independent 1-bedroom, 1-bath units, each featuring its own private entrance.

Parking & Storage: Ample off-street parking plus a detached 2-car garage (currently utilized by tenants for storage).

Location: Prime rental market close to schools, parks, and downtown Rutland.

Occupancy: Flawless, steady occupancy history offering long-term stability.

Recent Updates (75 North St)
2022: New furnace installed, along with electrical and minor plumbing updates.
2023: Additional targeted electrical upgrades completed.
2024: Brand-new communal laundry room built out for tenant convenience.
2025: Professional tree removal completed on the grounds.

Utilities: Serviced by three separate hot water heaters (one propane, two oil).

Financials & Investor Upside
Current Returns: Producing a strong 6.8% CAP rate at the current offering price.

Immediate Value: Rents are currently priced below market, giving you built-in rental upside from day one.

Future Optimization: Property is move-in ready, or you can unlock massive value by using state grant money to upgrade the two 1-bedroom units.

Don't miss this opportunity to add a stable, highly updated multi-family asset to your portfolio!