For Sale Status
$2,925,000 List Price
Multi Type
0 Beds
0 Baths
9,987 Sqft
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Burlington
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. †
Property Location
Property Details
MLS# 4980375 | Bedrooms 0 | Garage Size Car |
---|---|---|
List Price 2,925,000 | Total Bathrooms 0 | Year Built 1900 |
Type Multi-Family | Lot Size 0.2600 Acres | Taxes $61,486 |
Units 19 | Stories 2 | Road Frontage 75 |
Annual Income $288,000 | Style Multi-Family | Water Frontage |
Annual Expenses $0 | Finished 9,987 Sqft | Construction No, Existing |
Zoning Res-High Den | Above Grade 9,987 Sqft | Seasonal No |
Total Rooms 0 | Below Grade 0 Sqft | List Date Dec 16th, 2023 |