279-281 St Paul Street Burlington, Vermont 05401

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For Sale Status
$2,390,000 Price
Multi Type
8 Beds
8 Baths
8,577 Sqft
Listed By Lipkin Audette Team of Coldwell Banker Hickok & Boardman Realty

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Situated on Lake Champlain with views of the Adirondack Mountains, Burlington VT offers a wealth of cultural activities, lovely Victorian architecture, and a well educated, vibrant community. Here life takes place on a human scale. Most...

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279-281 Saint Paul Street 279-281 Saint Paul Street
Sixteen Downtown Apartments Sixteen Downtown Apartments
Beautiful Federal Style Beautiful Federal Style
Abundant Off-Street Parking Abundant Off-Street Parking
Desirable 1BR & Studio Units Desirable 1BR & Studio Units
Updated Units Updated Units
Eat in Kitchens Eat in Kitchens
Ideal 1 Bedroom Units Ideal 1 Bedroom Units
Bright Apartments Bright Apartments
Hardwood Floors Hardwood Floors
Remodeled Kitchens Remodeled Kitchens
Professionally Maintained Apts Professionally Maintained Apts
Well Laid-Out Units Well Laid-Out Units
Claw-Foot Bathtub Claw-Foot Bathtub
Front Porch Front Porch
Afternoons from the Top Deck Afternoons from the Top Deck
Offering Views of the Lake Offering Views of the Lake
Ground Level of Rear Units Ground Level of Rear Units
Even More Parking! Even More Parking!
Great Downtown Location Great Downtown Location
Just Blocks From the Lake Just Blocks From the Lake
Smalley Park Smalley Park
A Burlington Landmark A Burlington Landmark

Premier Downtown BTV 16 Unit

The original 1827 Brick Federal Style house has been recently updated and expanded to house 16 one-bedroom/studio apartments in downtown Burlington. The property is well located adjacent to Smalley Park and an easy stroll to downtown and the waterfront. The apartments have modern upgrades, remodeled kitchens, plenty of parking, some lake views and are fully occupied. Burlington's low vacancy rates in conjunction with a strong labor market continue to drive demand for high-quality rentals - especially these one-bedroom and studio apartments. Development Opportunity located in the Opportunity Zone and Downtown Zoning District with form based zoning. Invest in one of Burlington's landmark rental properties today!

Property Location

Property Details

MLS#  4771912 Bedrooms  8 Garage Size   Car
List Price  2,390,000 Total Bathrooms  8 Year Built  1827
Type  Multi-Family Lot Size  0.2600 Acres Taxes $33,071
Units  16 Stories  1/2/1900 Road Frontage  72
Annual Income  $167,251 Style  Apartment Building, Federal, Multi-Family Water Frontage  
Annual Expenses  $0 Finished  8,577 Sqft Construction  No, Existing
Zoning   DT Above Grade  8,577 Sqft Seasonal  No
Total Rooms  8 Below Grade  0 Sqft List Date  Aug 20th, 2019
Gross Income  $225,912 Operating Expenses  $0 Net Income  $167,251
Expenses Includes 
Unit 1   1 Beds, 1 Baths, $1,100/Monthly Unit 2   1 Beds, 1 Baths, $1,100/Monthly
Unit 3   1 Beds, 1 Baths, $1,100/Monthly Unit 4   1 Beds, 1 Baths, $1,100/Monthly
Unit 5   1 Beds, 1 Baths, $1,100/Monthly Unit 6   1 Beds, 1 Baths, $1,020/Monthly
Unit 7   1 Beds, 1 Baths, $900/Monthly Unit 8   1 Beds, 1 Baths, $1,000/Monthly
ConstructionWood Frame, Masonry
BasementWalk-up, Partial
Interior Features
Exterior Features
Exterior  Brick Disability Features  
Foundation  Stone, Stone House Color  Salmon
Floors  Vinyl, Carpet, Hardwood Building Certifications  
Roof  Slate, Shingle-Asphalt HERS Index  
DirectionsFrom Main Street, in order to avoid St. Paul Street construction, head south on S. Winooski Ave, then take a right down Adams Street, then left on Saint Paul Street. Property is immediately on the right, directly across from Smalley Park.
Lot DescriptionUnknown, City Lot, Near Bus/Shuttle
Garage & Parking  No, , , Paved, 11-20 Spaces, On Site, Off Street
Road Frontage  72 Water Access  
Driveway  Paved Water Type  
Flood Zone  Unknown Water Body  
Zoning  DT
School District  NA Middle  
Elementary   High  
Heat Fuel   Excluded  
Heating/Cool  None, Space Heater Negotiable  
Sewer  Public Parcel Access ROW  
Water  Public ROW for Other Parcel  
Water Heater  Tank Financing  
Cable Co   Documents  Property Disclosure, Deed, Tax Map
Electric  Circuit Breaker Tax ID  117-035-17564