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Listed by Steve Schoppmeyer • BHG Masiello Brattleboro
$ 425,000
Est. payment /mo
New
238 Marlboro RD Brattleboro, VT 05301
6 Beds
5 Baths
2,880 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,880 sqft
Price per Sqft $147
MLS Listing ID 5034591
Bedrooms 6
Full Baths 5
Construction Status Existing
Year Built 1970
Annual Tax Amount $7,591
Tax Year 2021
Lot Size 0.370 Acres
Acres 0.37
Property Description
This 6-unit fully-leased and cashflowing property is in great condition. With gross rents of $66,000, expenses (including property taxes) of $14,538, and net income of $51,462, this investment property shows a 12.1% cap rate. With stable, long-term tenants on annual leases and fully-separated utilities in 5 of the 6 units, just about everything is taken care of. Built in 1970, the property is modern and easy to maintain. Two spacious 2-bedroom units feature charming hardwood floors, while two 1-bedrooms include beautiful large picture windows and recently-installed mini splits, and two top-floor studios offer a full range of apartment options. Located just minutes away from downtown Brattleboro and all that it has to offer, where rental demand is sky-high, the property hasn't had a vacancy in years. A spacious lot allows for off-street parking for all six tenants, and nearby attractions include hiking trails, the Brattleboro farmers market, and the ski hill. Recent upgrades to the property include new propane furnaces and hot water heaters, insulation and stucco, and new bath fans and vents. At a 10% cap rate with low rents and the potential to add easily installed coin-op laundry in the common area for additional income, this would be fantastic for any investor. Nice turn key building that doesn't need anything to start earning money. See it today.
Location
State VT
County Vt-windham
Area Vt-Windham
Zoning SC / S
Rooms
Basement Entrance Walkout
Basement Finished
Interior
Cooling Individual, Mini Split
Exterior
Utilities Available Cable - At Site, Telephone At Site
Roof Type Shingle - Asphalt
Building
Story 2.5
Foundation Concrete
Sewer Public
Architectural Style Apartment Building
Construction Status Existing
Schools
School District Brattleboro School District
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