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Amazing opportunity with this Burlington 5-unit in 2 buildings, just blocks from Church Street and Lake Champlain. 4 residential apartments plus 475 SF of flexible commercial space. Lots of wonderful improvements- means fully occupied apartments that are a pleasure to show! All apartments have been recently remodeled; enjoy low maintenance costs with upgraded kitchens featuring maple cabinets and newer countertops, plus new flooring and fresh paint 6 new exterior doors and many new windows all within the past year! All separate utilities plus new heating system and coin-op laundry on premise. As landlord, enjoy the spacious garage/workshop with heated storage and convenient 1/2 bath with utility sink. Pride of ownership is more than evident at this well cared-for Burlington investment property with a 7.9% Cap rate!
Property Location
137-139 Elmwood Avenue Burlington
Property Details
Sold Price $577,500
Sold Date Mar 25th, 2016
MLS# 4449092
Bedrooms 6
Garage Size 0 Car
List Price 589,000
Total Bathrooms 5
Year Built 1920
Type Multi-Family
Lot Size 0.1200 Acres
Taxes $11,306
Units 5
Stories 2
Road Frontage 41
Annual Income $0
Style Other, Converted
Water Frontage
Annual Expenses $18,053
Finished 3,408 Sqft
Construction No, Existing
Zoning RM
Above Grade 3,408 Sqft
Seasonal No
Total Rooms 6
Below Grade 0 Sqft
List Date Sep 1st, 2015
Gross Income $0
Operating Expenses $18,053
Net Income $64,620
Expenses Includes
Unit 1 1 Beds, 1 Baths, 600 SqFt, $1,100/Mo
Unit 2 2 Beds, 1 Baths, 780 SqFt, $1,350/Mo
Unit 3 0 Beds, 1 Baths, 475 SqFt, $500/Mo
Unit 4 1 Beds, 1 Baths, 570 SqFt, $1,075/Mo
Unit 5 2 Beds, 1 Baths, 760 SqFt, $0/Mo
ConstructionWood Frame
BasementUnfinished, Bulkhead, Concrete
Interior Features
Exterior Features
Exterior Vinyl
Disability Features 1st Floor Bedroom, 1st Floor Full Bathrm, 1st Floor Laundry
Foundation Block, Stone
House Color Tan
Floors Tile, Hardwood, Laminate
Building Certifications
Roof Slate, Shingle-Other
HERS Index
DirectionsPearl Street, right onto Elmwood Avenue, property on left before North Street.
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