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.
Lot & Building Features
UtilitiesCable, Phone, Other
ConstructionTimber Frame, Vinyl Siding
CoolingNone
Heat SourceOther
HeatingForced Air
SewerSeptic
Taxes Paid$12,453
WaterDug Well
Basement DescriptionConcrete Floor, Dirt Floor, Crawl Space
FoundationConcrete, Slab - Concrete
Lot DescriptionCountry Setting, Mountain View, Hilly
RoofFlat, Shingle - Asphalt, Membrane
GarageNo
Price History of 3180 Franklin Street, Brandon, VT
Date
Name
Price
Difference
07/10/2024
Price Adjustment
$895,000
5.79%
06/21/2024
Listing Price
$950,000
N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
3180 Franklin Street (MLS #5001797) is a multi-family listing located in Brandon, VT.
This multi-family listing is 7,700 sqft and on a lot of 176,854 sqft (or 4.06 acres) and is 51 years old. This property was listed on 06/21/2024 and has been priced for sale at $895,000.
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.
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Listing information courtesy of: 3GEN Real Estate Inc
Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers. personal, non- commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 09/07/2024