A fantastic investment opportunity awaits in West Rutland with the sale of two meticulously maintained buildings, offering a total of seven units. With a long-standing ownership since 1985, the seller has diligently maintained and enhanced these properties, presenting an enticing prospect for investors seeking stable returns in the real estate market. The first building features four units, consisting of three one-bedroom apartments and one two-bedroom apartment. The second building comprises two spacious three-bedroom units. With a total of six units, there's significant income potential for investors. Additionally, the presence of five storage units in the basement offers the possibility of additional rental income or amenities for tenants and being that it is a walk out basement there is also enough space to add a seventh unit if permitting allows. Both buildings are equipped with electric heating systems, ensuring that tenants cover all utility expenses. This setup simplifies management and enhances profitability for the owner. The two three-bedroom units in the second building are both vacant and have recently undergone renovations, offering a turnkey opportunity for immediate owner occupancy or tenant placement after closing. Don't miss out on this exceptional investment opportunity.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $440,000 | $440,000 | $440,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.133% | 6.256% |
Monthly Tax Payment | $540 | $540 | $540 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,002 | $2,924 | $3,711 |
Total Monthly Payment | $3,634 | $3,556 | $4,343 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.