Listed by Smith Macdonald Group with Coldwell Banker Carlson Real Estate 802-253-7358
Active
21-25 Elmwood Avenue
Burlington VT, 05401
$2,925,000
$292.88 per sqft
Active
9,987 sqft
Multi-family
Built in 1900
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.
4980375
MLSⓇ ID
December 16, 2023
Listed
November 22, 2024
Updated
Map
21-25 Elmwood Avenue
Burlington VT, 05401
Interior Features
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Hot Water, Electric, Gas - Natural
Exterior/Building Features
Lot Size
0.26 Acres
Roof
Shingle - Asphalt
Sewer
Public
Other Property Details
Area Name
VT-Chittenden
Taxes
$61,486
Tax Frequency
Annually
Days on Market
75
Garage
No
View
No
Pool
No
Listed by Smith Macdonald Group with Coldwell Banker Carlson Real Estate 802-253-7358
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