$3,195,000
A 19-unit multi-family property in the heart of downtown Burlington, adjacent to the Federal Building/Post Office and within a block of Church Street, holds immense value due to its prime location. The consistent lack of vacancies speaks volumes about the desirability of these units, indicating a strong demand from potential… Read More tenants. The property's composition, including a stand-alone single-family 3-bedroom carriage house and the main building with 18 units (one used as a maintenance office), offers diversity and potential for different rental strategies. Moreover, the recent updates, such as the new boiler and hot water tanks, demonstrate a commitment to maintenance and modernization, making the property even more attractive to potential buyers. Given the scarcity of properties of this size and caliber in such a prime location, this opportunity could be highly sought-after by investors looking to capitalize on a stable, income-generating asset in downtown Burlington. Already over an 8% cap rate with easy room for improvement. Read Less
Courtesy of Smith Macdonald Group, Coldwell Banker Carlson Real Estate 802-253-7358
Listing Snapshot
Days Online
11
Last Updated
Square Ft.
9,987
Lot Size
0.26 Acres
Year Built
1900
MLS Number
5052749
Additional Details
Property Access
Road Frontage: Yes
Basement
Basement Access Type: Walk-up, Basement: Yes, Concrete, Unfinished
Cooling
None
Garage
Garage: No
Heating
Natural Gas, Electric, Hot Water
Income
Gross Income: 336870
Lot
0.26 acres, 11,326 sqft
Parking
Driveway: Paved
Property
Seasonal: No, 9,987 finished sqft above grade, 9,987 total finished sqft, 14,655 total sqft, 4,668 unfinished sqft below grade, 15 one-bedroom units, 2 two-bedroom units, 1 three-bedroom unit, 3 stories, 19 units, Built in 1900
Roof
Asphalt Shingle
Sewer
Public
Taxes
Gross Amount: $67,182
Utilities
Circuit Breaker(s)
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Brandon Elsemore

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