61 Elmwood Avenue Burlington, Vermont 05401

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Under Contract Status
$2,225,000 Price
Multi Type
8 Beds
8 Baths
7,296 Sqft
Listed By Kara Koptiuch of Vermont Real Estate Company

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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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Location, location, location!! Excellent investment opportunity to own 16 CONDOS in one of Burlington’s most desirable areas. Tenants' love the convenience of being in eyesight of Pearl Street, a short walk to Church Street, waterfront, University and Medical Center. This low maintenance complex features 16 one bedroom apartments with hardwood flooring/tile in each unit, ample off street-parking, coin-op laundry room and potential for basement storage all on site. Property is condominiumized providing potential Buyer(s) with flexibility to sell units individually in the future. Easy to rent, manage and maintain. Properties like this one rarely come available.

Property Location

Property Details

Contract Date  Apr 10th, 2021
MLS#  4794433 Bedrooms  8 Garage Size   Car
List Price  2,225,000 Total Bathrooms  8 Year Built  1920
Type  Multi-Family Lot Size  0.3000 Acres Taxes $34,397
Units  16 Stories  2 Road Frontage  75
Annual Income  $174,200 Style  Colonial, Multi-Family Water Frontage  
Annual Expenses  $0 Finished  7,296 Sqft Construction  No, Existing
Zoning   Residential-High Density Above Grade  7,296 Sqft Seasonal  No
Total Rooms  8 Below Grade  0 Sqft List Date  Feb 18th, 2020
Gross Income  $174,200 Operating Expenses  $0 Net Income  $110,669
Expenses Includes 
Unit 1   1 Beds, 1 Baths, 672 SqFt, $910/Monthly Unit 2   1 Beds, 1 Baths, 672 SqFt, $950/Monthly
Unit 3   1 Beds, 1 Baths, 672 SqFt, $945/Monthly Unit 4   1 Beds, 1 Baths, 672 SqFt, $950/Monthly
Unit 5   1 Beds, 1 Baths, 384 SqFt, $850/Monthly Unit 6   1 Beds, 1 Baths, 384 SqFt, $830/Monthly
Unit 7   1 Beds, 1 Baths, 384 SqFt, $850/Monthly Unit 8   1 Beds, 1 Baths, 384 SqFt, $850/Monthly
ConstructionWood Frame
BasementWalk-up, Exterior Access
Interior Features
Exterior Features
Exterior  Brick, Vinyl Siding, Wood Siding Disability Features  
Foundation  Stone House Color  White
Floors  Tile, Hardwood Building Certifications  
Roof  Standing Seam, Membrane HERS Index  
DirectionsPearl Street, right onto Elmwood Ave, building is on the left.
Lot Description, City Lot
Garage & Parking  No, , , Off Street
Road Frontage  75 Water Access  
Driveway  Paved Water Type  
Flood Zone  Unknown Water Body  
Zoning  Residential-High Density
School District  NA Middle  
Elementary   High  
Heat Fuel  , Gas-Natural Excluded  
Heating/Cool  None, Baseboard, Electric, Gas Heater Negotiable  
Sewer  Public Parcel Access ROW  
Water  Public ROW for Other Parcel  
Water Heater  Owned Financing  
Cable Co   Documents  Deed
Electric  Circuit Breaker Tax ID  000-000-00000

† The remarks published on this webpage originate from Listed By Kara Koptiuch of Vermont Real Estate Company 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.