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 over an 8% cap rate with easy room for improvement.
Active
Listed by:
Smith Macdonald Group,
Coldwell Banker Carlson Real Estate 802-253-7358
$3,195,000
21-25 Elmwood Avenue, Burlington, VT 05401
--beds
--baths
9,987sqft
Est.:
Multi Family
Built in 1900
-- sqft lot
$2,971,700 Zestimate®
$320/sqft
$-- HOA
What's special
- 27 days
- on Zillow |
- 442 |
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