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Location, location, location! Fantastic two-building, 5-unit investment property in close proximity to UVM, UVM Medical Center, and downtown Burlington! 7 Fletcher Place, the largest of the two buildings, houses 3 of the rental units. Off the front porch, access unit 1 on the first floor, comprised of 2 bedrooms, an updated ¾ bathroom, and open-concept living/dining/kitchen area. Upstairs, unit 2 is a 2 bed, 1 bath, offering a bright kitchen/dining room with granite countertops and stainless appliances, welcoming living space, and 2 bonus spaces. The 1 bed, 1 bath 3rd unit of this building has a private entrance at the rear and offers a convenient mudroom area, open-concept living/dining/kitchen. The basement of 7 Fletcher has 2 washers and dryers, currently free for all tenants, and storage space. On the same lot, 11 Fletcher Place sits next door and is comprised of 2 additional rental units, both beautifully renovated with separate utilities, including mini spits! The 1 bed, ¾ bath upper unit includes a bright living room and fantastic eat-in kitchen with stainless appliances. The lower studio unit features a bright kitchen with granite countertops and ¾ bathroom with marble countertops. Tenants pay all utilities- see utility information document for more details. Fully rented out, this low-maintenance property with a desirable 6.59% cap rate is a must-see for investors! †
Property Location
7-11 Fletcher Place Burlington
Property Details
List Price 1,050,000
Bedrooms 6
Garage Size Car
Cooperation Fee Unknown
Total Bathrooms 5
Year Built 1900
MLS# 5021247
Lot Size 0.08 Acres
Taxes $18,073
Type Multi-Family
Days on Market 2 Days
Tax Year 2024
Units 5
Stories 2
Road Frontage 62
Annual Income $0
Style Near Public Transportatn
Water Frontage
Annual Expenses $0
Finished 2,982 Sqft
Construction No, Existing
Zoning Res-Medium Intensity
Above Grade 2,478 Sqft
Seasonal No
Total Rooms 6
Below Grade 504 Sqft
List Date Nov 6th, 2024
Gross Income $0
Operating Expenses $0
Net Income $0
Expenses Includes
Unit 1 2 Beds, 1 Baths, 640 SqFt, $2,050/Monthly
Unit 2 2 Beds, 1 Baths, 813 SqFt, $2,600/Monthly
Unit 3 1 Beds, 1 Baths, 331 SqFt, $1,450/Monthly
Unit 4 0 Beds, 1 Baths, $1,500/Monthly
Unit 5 1 Beds, 1 Baths, 460 SqFt, $1,800/Monthly
Construction
BasementWalk-up, Unfinished, Unfinished
Interior Features
Exterior Features
Exterior
Disability Features
Foundation Brick, Stone
House Color Blue
Floors Vinyl, Tile, Hardwood
Building Certifications
Roof Shingle
HERS Index
DirectionsFrom Main Street in Burlington, turn right onto East Avenue. At the light, turn left onto Colchester Avenue. Fletcher Place will be the first street on your right. 7-11 Fletcher is the second set of buildings on the left. Please park on street for showings.
Lot Description, Near Bus/Shuttle, Suburban
Garage & Parking No, Unpaved, On Street, Off Street, 3 Parking Spaces, Unpaved
Road Frontage 62
Water Access
Driveway Gravel, Common/Shared
Water Type
Flood Zone No
Water Body
Zoning Res-Medium Intensity
School District Burlington School District
Middle Edmunds Middle School
Elementary Choice
High Burlington High School
Heat Fuel
Excluded
Heating/Cool Mini Split, Baseboard, Heat Pump
Negotiable
Sewer Public
Parcel Access ROW
Water
ROW for Other Parcel
Water Heater
Financing
Cable Co
Documents
Electric Circuit Breaker
Tax ID 114-035-16670
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† The remarks published on this webpage originate from Listed By Elise Polli of Polli Properties via the PrimeMLS IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman cannot be held responsible for possible violations of copyright resulting from the posting of any data from the PrimeMLS IDX Program.