21-25 Elmwood Avenue

21-25 Elmwood Avenue, Burlington, VT

$2,925,000

Price

0.26 acres

Lot Area

4980375

MlsNumber

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Overview
Lot Area
0.26 acres
MlsNumber
4980375
Description

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 7.5% cap rate with easy room for improvement.

Highlights
  • Annual Tax: $ 61486.0
  • Water: Municipal Water
  • Age: Over 50 Years Old
  • Heating Fuel Type: Gas
  • Exterior Description: Vinyl Siding
  • Roof: Asphalt Shingle Roof
  • Sewer: Public
  • Lot Size: Under 1/2 Acre
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Listing ID: 55a66ab6-55ff-4d3b-99fa-df1d405e972b
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