252-260 College Street

Description

Rare opportunity to acquire a fully renovated, income-producing multi-building portfolio in Burlington’s highly desirable Downtown Center (FD5) zoning district. 260 & 252 College Street offer a combined 20 residential units with 48 total bedrooms, ideally positioned for strong rental demand and long-term appreciation. 260 College Street features 14 units (45 beds) within a historically significant structure originally built in 1906 and thoughtfully converted to multifamily use. A comprehensive, unit-by-unit gut renovation completed in 2026 delivers modern systems and finishes throughout, including new kitchens, baths, electrical, plumbing, sprinkler system, and common boiler. The property benefits from high ceilings (up to 18’), maximizing livability and tenant appeal, while added bedrooms and newly created units enhance income potential. Additional capital improvements include secure gated access, camera system, exterior lighting, and upgraded common amenities, positioning the asset as a turnkey, low-maintenance investment. 252 College Street complements the offering with a fully renovated 3-unit building (completed 2025), converted from office to residential use. Each unit features modern finishes, in-unit laundry, and separate boilers, providing operational efficiency and strong tenant demand. Together, the properties offer diversified unit mix, separately metered electric, and significant recent capital investment across all major systems—minimizing near-term expenses. Located in a prime rental corridor near downtown amenities, employment, and universities, the portfolio is well-positioned for stable occupancy and continued rent growth. Ideal for investors seeking a turnkey asset with scale, strong cash flow potential, and long-term upside in one of Vermont’s most resilient rental markets.