3180 Franklin Street , Brandon, VT 05733
Brandon, VT 05733
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.
Details
| Mls | 5001797 |
|---|---|
| Listing Type | For Sale |
| Subtype | Resale |
| Year | 1973 |
| Days On Site | 174 |
| Listing Provided By | 3GEN Real Estate Inc | Michael Gilman |
Features
| Basement | Y |
|---|---|
| Units | 10 |
| Zoning | RD |
| Acreage | 4.06 |
Market Activity 05733
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Learn More About This Property
| State | VT |
|---|---|
| County | VT Rutland |
| City | Brandon |
| Zip Code | 05733 |
| Listing VS Median (in 05733) | |
Price: $895,000 low | high Med: $400,000 On Site: 174 low | high Med: 69.000000 | |