61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
61 Elmwood Avenue
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$2,395,000

61 Elmwood Avenue

8,736 Sq.Ft.

Description

The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.

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Location

61 Elmwood Avenue, Burlington, VT 05401

Status

For Sale

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Thank you for your interest in 61 Elmwood Avenue, Burlington, VT 05401. We are reviewing your request and will be in touch shortly!

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Property Amenities

Area & Lot
Lot Area 0.3 Acres
Living area 8,736 Sq.Ft.
MLS® ID 4980374
Year Built 1920
Architecture Styles Multi-Family
Type Multi-Family
Status For Sale
Exterior
Air conditioning None
Heat type Baseboard, Electric, Gas Heater, Gas - Natural
Water Source Public
Sewer Public
Parking Off Street, Parking Spaces 11 - 20
Lot Features City Lot, Level, Sidewalks
Roof Membrane, Standing Seam
Finance
Sales Price $2,395,000
Real Estate Tax $39,670 yearly

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