Description

Rarely available, high cash flow 4plex, in the charming artisan town of Proctor, listed at an as is 10%+ cap. This stately immense property, at over 6, 000 square feet, was formerly a home owned by an executive of the famed Proctor Marble Corporation. It was converted into 4 unique apartments, which have enjoyed near perpetual 100% occupancy due to their desirability. You will be hard pressed to find larger apartments then this 4plex in the region. With an average square footage over 1, 000 and multiple floors for two of them. Property would be ideal for owner occupancy or to rent for significant income The building has been professionally managed and renovated. With a Net Operating Income of over $41, 000, this investment is projected to yield over a 13%-year 1 cash on cash return based on current numbers, and cash returns can go to 20%+ per year if rents are brought to market. This allows the new owner to realize significant returns from cash flow vs speculation. This property is located within proximity to such iconic sites such as the Vermont Marble Museum, Wilson Castle, Beaver Pond, Proctor Free Library, outdoor ice-skating and roller rink, Carriage Trails, as well as the Proctor Pool. This Property is available as a package with another Proctor 4plex - 50-52 Gorham Bridge Rd MLS#5013870. Listing Broker is a member of the LLC selling the property

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Listed by: Michael Gilman