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With a recent price improvement and 7% cap rate this Burlington 4-unit in highly desirable downtown location offers an attractive return on investment for years to come adding tons of value. Featuring 2 bedrooms, 1 bath in each apartment - all with similar floor plans and covered porches and some with updated flooring and appliances. Separate utilities, laundry hook-ups in basement and at least 10 parking spaces in back parking lot. Convenient location offering easy access to Downtown, Lake Champlain and the up-and-coming South End, tenants will love being in the middle of it all. Don't miss it! Investment properties like this don't come around often!
Property Location
224-226 Pine Street Burlington
Property Details
Sold Price $765,000
Sold Date Dec 23rd, 2020
MLS# 4825514
Bedrooms 8
Garage Size Car
List Price 774,900
Total Bathrooms 4
Year Built 1935
Type Multi-Family
Lot Size 0.1800 Acres
Taxes $12,261
Units 4
Stories 2
Road Frontage
Annual Income $74,400
Style Apartment Building, Multi-Level
Water Frontage
Annual Expenses $0
Finished 3,456 Sqft
Construction No, Existing
Zoning RMD
Above Grade 3,456 Sqft
Seasonal No
Total Rooms 8
Below Grade 0 Sqft
List Date Aug 28th, 2020
Gross Income $74,400
Operating Expenses $0
Net Income $53,532
Expenses Includes
Unit 1 2 Beds, 1 Baths, 864 SqFt, $1,550/Monthly
Unit 2 2 Beds, 1 Baths, 864 SqFt, $1,550/Monthly
Unit 3 2 Beds, 1 Baths, 864 SqFt, $1,550/Monthly
Unit 4 2 Beds, 1 Baths, 864 SqFt, $1,550/Monthly
ConstructionWood Frame
BasementInterior, Unfinished, Exterior Stairs
Interior Features
Exterior Features
Exterior Wood
Disability Features
Foundation Concrete
House Color Gray
Floors Vinyl, Carpet, Laminate, Hardwood
Building Certifications
Roof Shingle
HERS Index
DirectionsFrom Main Street, take Pine Street South, past Maple Street, property on left before Soda Plant building.
Lot Description, City Lot
Garage & Parking No, , , Off Street, 5-10 Spaces, Parking Spaces 5 - 10
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