Brandon, VT3180 Franklin Street
Price$895,000
Est. Mortgage: $/month
MLS Number 5001797
- Multifamily
- Address 3180 Franklin Street
- Units 10
- Bathroom 10
- Acreage 4.06
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.
Listed by Michael Gilman of 3GEN Real Estate Inc
