Contact a local mortgage provider today to get pre-approved.
Call: (802)-318-0823 NMLS# 402933
Get Pre-Approved »
Mortgage Calculator
$
$ Taxes
$ Principal & Interest
$
This calculation is based on a rough estimate. Every person's situation is different. Be sure to consult with a mortgage advisor on your specific needs.
Wonderful Burlington, VT North End investment opportunity! With both a duplex-style and a single-family style building located on the same .15 /- acre lot, the property consists of 3 living units that share a huge driveway and parking area. All units are currently leased. The current gross income is $105,600 per year with total tax and operating expenses of $19,053 per year. By June 1, 2023, the seller anticipates income of $111,000 with a net of $91,947 for a cap rate at list price of almost 7%. The duplex features two 3-bedroom apartments with a basement storage area. The single-family style building is located at the back of the lot and offers 4 bedrooms, 2 bathrooms, a nice living area, a big kitchen, and a lovely front deck. Both buildings share a small yard with picnic benches for the tenants’ shared enjoyment. Off-street parking is never an issue with the large driveway. Seller has historically repainted and made repairs to the units at each tenant changeout, and the units are in good condition. Seller is in the process of requesting an updated rental compliance inspection. Rental registry is due April 1. A new roof was installed on the duplex in 2021. Seller had 50% of the duplex exterior and 75% of the single-family exterior painted in 2020. The property is just before the intersection of Ward Street and North Ave. Easy access to the bus service, UVM, Champlain College, and hospital. †
Property Location
Property Details
MLS# 4942613
Bedrooms 10
Garage Size Car
List Price 1,350,000
Total Bathrooms 4
Year Built 1899
Type Multi-Family
Lot Size 0.1500 Acres
Taxes $15,203
Units 3
Stories 2
Road Frontage 50
Annual Income $105,600
Style Other, Multi-Family, Other
Water Frontage
Annual Expenses $0
Finished 2,816 Sqft
Construction No, Existing
Zoning Residential - Medium Dens
Above Grade 2,816 Sqft
Seasonal No
Total Rooms 10
Below Grade 0 Sqft
List Date Feb 6th, 2023
Gross Income $105,600
Operating Expenses $0
Net Income $86,547
Expenses Includes
Unit 1 4 Beds, 1 Baths, 1,276 SqFt, $4,000/Monthly
DirectionsFrom Main Street in Burlington, turn onto Battery Street and head toward the Old North End. Turn left onto Sherman Street and bear right onto North Ave. Turn right onto Ward Street. Property will be on your left after the stop sign.
Lot DescriptionNo, City Lot, Level, Open, Sidewalks, Street Lights, Near Bus/Shuttle
Garage & Parking No, , , Paved, On Site, Off Street, Paved
† The remarks published on this webpage originate from Listed By Curtis Trousdale of Preferred Properties 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.
Back to Search Results
