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 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 a 8% cap rate with easy room for improvement.
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Location
21-25 Elmwood Avenue, Burlington, VT 05401
Status
For Sale
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Property Amenities
Area & Lot
Lot Area0.26 Acres
Living area9,987 Sq.Ft.
MLS® ID4980375
Year Built1900
TypeMulti-Family
StatusFor Sale
Exterior
Air conditioningNone
Heat typeHot Water, Electric, Gas - Natural
SewerPublic
RoofShingle - Asphalt
Finance
Sales Price$2,925,000
Real Estate Tax$61,486 yearly
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