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Courtesy of Smith Macdonald Group of Coldwell Banker Carlson Real Estate: .

61 Elmwood Avenue

Burlington, VT 05401
  • $2,395,000
  • STATUS: Active
  • ON SITE: 69 Days
  • MLS #: 4980374
Price Reduced
UPDATED: 191 min ago
$2,395,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 16
    BATHS
  • 0
    1/2 BATHS
  • 8,736
    SQFT
  • $274
    $/SQFT
Type:
Multi-Family
Built:
1920
County:
Area:

School Ratings & Info

Description

The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.

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© Copyright 2024 PrimeMLS. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2024-02-24T00:06:02.603.
www.livingvermont.com/homes/146104864
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61 Elmwood Avenue Burlington, VT 05401

  • Price: $2,395,000
  • Status: Active
  • On Site: 69 Days
  • Updated: 191 min ago
  • MLS #: 4980374
0
Beds
16
Baths
0
½ Baths
0.3
Acres
8,736
SQFT
$274
$/SQFT
1920
Built
County:
Chittenden
Area:
Burlington
Property Description
The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.
Exterior Features

Construction Wood Frame Driveway Paved Exterior BrickVinyl SidingWood Siding Has Garage No Lot Description City LotLevelSidewalks Parking Off StreetParking Spaces 11 - 20 Road Frontage Yes Road Frontage Length 75 Roads Public Roof MembraneStanding Seam Style Multi-Family

Interior Features

Basement Access Type Walk-up Basement Description Exterior Access Cooling None Foundation Stone Has Basement Yes Heating BaseboardElectricGas Heater Total Refrigerators 16 Water Heater Owned

Property Features

Construction Status Existing Electric Circuit Breaker(s) Electric Company BED Flood Zone No Foreclosed / Bank Owned / REO No Fuel Company VT Gas Gross Income 240000 Heat Fuel Gas - Natural Pre Construction No Seasonal No Sewer Public Tax Gross Amount 39670 Tax Year 2023 Taxes Tbd No Total Electric Meters 16 Total1 Bed Units 16 Total2 Bed Units 0 Total3 Plus Bed Units 0 Utilities Internet - Cable Water Public Zoning Res-High Den

Courtesy of Smith Macdonald Group of Coldwell Banker Carlson Real Estate: .


© Copyright 2024 PrimeMLS. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2024-02-24T00:06:02.603.
 
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