Back to Search ResultsSold Status
$620,000 Sold Price
Multi Type
8 Beds
4 Baths
3,949 Sqft
Sold By BHHS Vermont Realty Group/Burlington
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Burlington
Burlington Investment Property with Great Returns This Burlington investment property has been owned and managed by Nedde Real Estate since its purchase in 2014 and is now fully leased with dependable, long term tenants. Updates include revitalizing the detached, 2-bay garage for rental purposes, new water heater tank in 2017 and new garage bay doors throughout. This work horse of an investment property brings in great returns and is being sold due to the disbanding of the ownership partnership. Features: Four 2-bedroom apartments, fully leased Two storage garage bays, fully leased Laundry room in basement with coin-op washer/dryer and new flooring Storage cages in basement adding value for tenants Charming apartment layouts with lots of natural light One apartment completely renovated New water heater tank installed in 2017 Ample parking for all tenants Tenants pay separately metered electricity Heat included in all rent See expense and NOI analysis attached †
Property Location
Property Details
| Sold Price $620,000 | Sold Date Aug 30th, 2018 | |
|---|---|---|
| MLS# 4701136 | Bedrooms 8 | Garage Size 6 Car |
| List Price 650,000 | Total Bathrooms 4 | Year Built 1920 |
| Type Multi-Family | Lot Size 0.4600 Acres | Taxes $11,251 |
| Units 4 | Stories 3 | Road Frontage |
| Annual Income $73,050 | Style Converted, Freestanding, Multi-Family | Water Frontage |
| Annual Expenses $27,884 | Finished 3,949 Sqft | Construction No, Existing |
| Zoning Residential/Commercial | Above Grade 3,949 Sqft | Seasonal No |
| Total Rooms 8 | Below Grade 0 Sqft | List Date Jun 18th, 2018 |
| Gross Income $73,050 | Operating Expenses $27,884 | Net Income $45,166 |
|---|
| Expenses Includes |
|---|
| Unit 1 2 Beds, 1 Baths, 1,159 SqFt, $1,500/Monthly | Unit 2 2 Beds, 1 Baths, 1,119 SqFt, $1,500/Monthly |
|---|---|
| Unit 3 2 Beds, 1 Baths, 671 SqFt, $1,400/Monthly | Unit 4 2 Beds, 1 Baths, 1,000 SqFt, $1,500/Monthly |
| ConstructionOther |
|---|
| BasementWalkout, Assigned Storage, Sump Pump, Storage Space, Daylight, Interior Stairs, Full, Storage Space, Sump Pump, Walkout |
| Interior Features |
| Exterior Features |
| Exterior Vinyl | Disability Features |
|---|---|
| Foundation Slab - Concrete | House Color Yellow |
| Floors Vinyl, Hardwood, Ceramic Tile | Building Certifications |
| Roof Slate, Metal, Slate | HERS Index |
| DirectionsWest side of Shelburne Road across from Hoover Street. |
|---|
| Lot Description, Landscaped, Near Bus/Shuttle |
| Garage & Parking Yes, Assigned, Leased, , On Site, Visitor, 11-20 Spaces, Paved, Leased, Reserved, Garage, Assigned, Visitor |
| Road Frontage | Water Access |
|---|---|
| Driveway Paved | Water Type |
| Flood Zone No | Water Body |
| Zoning Residential/Commercial |
| School District NA | Middle Edmunds Middle School |
|---|---|
| Elementary Champlain Elementary School | High Burlington High School |
| Heat Fuel | Excluded |
|---|---|
| Heating/Cool None, Baseboard, Radiators, Multi Zone, Hot Water, Radiator | Negotiable |
| Sewer Public | Parcel Access ROW |
| Water Public | ROW for Other Parcel |
| Water Heater Tank, Gas-Natural, Owned, Tank | Financing |
| Cable Co | Documents Lease Agreements, Deed |
| Electric Circuit Breaker | Tax ID 11403518940 |
† The remarks published on this webpage originate from Listed By of Nedde Real Estate via the NNEREN IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman Realty cannot be held responsible for possible violations of copyright resulting from the posting of any data from the NNEREN IDX Program.
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