61 Elmwood Avenue, Burlington, VT 05401

$2,395,000
8,736
SqFt

Listing courtesy of Smith Macdonald Group from Coldwell Banker Carlson Real Estate. ()

List Price
$2,395,000
Status
ACTIVE
MLS#
4980374
Price Change
▼ $230,000 1708729673
Living Area
8,736
Lot Size
13,068
Acres
0.30
Year Built
1920

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.

Additional Information

Delayed Showing
No
Tax Amount
$39,670
Listing Agent
Smith Macdonald Group
Listing Office
Coldwell Banker Carlson Real Estate
Style
Multi-Family
Number Stories
2
Electric
Circuit Breaker(s)
Exterior
Brick, Vinyl Siding, Wood Siding
Construction
Wood Frame
Basement
Exterior Access
Flood Zone
No
Garage And Parking
Off Street, Parking Spaces 11 - 20
Foundation
Stone
Roads
Public
Driveway
Paved
Sewer
Public
Units
16
Roof
Membrane, Standing Seam
Zoning
Res-High Den
Heat Fuel
Gas - Natural
Water Heater
Owned
Heating And Cooling
Baseboard, Electric, Gas Heater
Seasonal
No
Water
Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

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