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  • Listed by: 

    Michael Gilman,

    3GEN Real Estate Inc 802-227-7327

    Price cut: $26K (6/25)
    $499,000

    38 Cottage Street, Rutland City, VT 05701

    7beds
    7baths
    3,590sqft
    : 
    Multi Family
    Built in 1884
    -- sqft lot
    $483,000 Zestimate®
    $139/sqft
    $-- HOA

    What's special

    Well maintained 100% occupied 7 unit located in central Rutland neighborhood, priced below comparables and recent sales! This 7 unit property was recently renovated and is being listed at a ~12% cap and an annual Net Operating Income of ~$58K (~13% cap without management fees). A new owner can step into to this turnkey investment and enjoy extraordinary cash on cash returns based on current numbers and financing rates, and therefor realize significant returns from cash-flow vs speculation. This is an ideal building to let you capitalize on falling rates and the return of 100% bonus depreciation In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a turnkey 7plex ahead of the historic multibillion dollar development occurring nearby at Killington, which is already resulting in organic property appreciation and increased interest in the area from investors. Please call or email broker directly for up to date Offering Memo for this property, and a video tour is also available. The property is available as a package with other buildings across VT for a buyer looking for a larger high cash flow turnkey multifamily portfolio. Listing Broker is a member of the LLC selling the property.
    102 days
    on Zillow
    |
    102
    |
    5
    |

    Zillow last checked: 7 hours ago

    Listing updated: July 29, 2025 at 01:51pm

    Listed by:

    Michael Gilman,

    3GEN Real Estate Inc 802-227-7327

    Source: PrimeMLS,MLS#: 5037586MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 38 Cottage Street.

    Next available tour time:Today at 11am

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 7
    • Bathrooms: 7
    Heating
    • Oil
    Cooling
    • None
    Features
    • Basement: Unfinished,Interior Entry
    Interior area
    • Total structure area: 4,588
    • Total interior livable area: 3,590 sqft
    • Finished area above ground: 3,590
    • Finished area below ground: 0

    Property

    Parking
    • Parking features: Paved
    Features
    • Levels: Two
    • Frontage length: Road frontage: 50
    Lot
    • Size: 6,534 Square Feet
    • Features: Other
    Details
    • Parcel number: 54017012688
    • Zoning description: MR-1

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Wood Frame
    • Foundation: Stone
    • Roof: Asphalt Shingle
    Condition
    • New construction: No
    • Year built: 1884

    Utilities & green energy

    • Electric: 100 Amp Service
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Cable

    Community & HOA

    Location
    • Region: Rutland

    Financial & listing details

    • Price per square foot: $139/sqft
    • Tax assessed value: $161,800
    • Annual tax amount: $6,268
    • Date on market: 4/23/2025
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