For Sale Status
$2,395,000 List Price
Multi Type
0 Beds
0 Baths
8,736 Sqft
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Burlington
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. †
Property Location
Property Details
MLS# 4980374 | Bedrooms 0 | Garage Size Car |
---|---|---|
List Price 2,395,000 | Total Bathrooms 0 | Year Built 1920 |
Type Multi-Family | Lot Size 0.3000 Acres | Taxes $39,670 |
Units 16 | Stories 2 | Road Frontage 75 |
Annual Income $240,000 | Style Multi-Family | Water Frontage |
Annual Expenses $0 | Finished 8,736 Sqft | Construction No, Existing |
Zoning Res-High Den | Above Grade 8,736 Sqft | Seasonal No |
Total Rooms 0 | Below Grade 0 Sqft | List Date Dec 16th, 2023 |