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

May 14, 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


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

2/29/2024

Price Change

$2,925,000

-4%

1/12/2024

Price Change

$3,025,000

-6%

Listed by Smith Macdonald Group with Coldwell Banker Carlson Real Estate 802-253-7358

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