7 Monroe Street Burlington, Vermont 05401 MLS# 5008557

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Under Contract Status

$479,000 List Price

Multi Type

2 Beds

2 Baths

1,216 Sqft

Listed By Lipkin Audette Team of Coldwell Banker Hickok & Boardman - (802) 846-8800
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Burlington

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Downtown Burlington Duplex

This Downtown Burlington duplex is a fantastic opportunity for both owner-occupiers and investors! Located just a stone's throw from Battery Park and the Lake Champlain waterfront, this well-maintained building has been cared for by its owner for many years. Key updates include new siding and windows installed about 10 years ago, newer heating systems, and a beautiful standing seam metal roof that's only 2 years old. The property features two spacious 1-bedroom units, each with laundry hook-ups and separate utilities. Additional perks include storage in the basement, some off-street parking, and resident-only street parking. Enjoy easy access to a corner convenience store, the police station, city parks, and the Church Street Marketplace. Whether you're looking to occupy one unit while renting out the other, or seeking a solid investment opportunity, this duplex is ideal!

Cooperation Fee - 2.5%

The Seller(s) of this property has authorized the Listing Agency/Agent to offer a Cooperation Fee or Seller Concession toward Buyers’ closing costs in the amount of 2.5% with accepted terms of an offer. This fee is offered to Buyer’s Agents and Broker’s Agents. This fee must be agreed to in writing within the terms of the Purchase & Sale Contract or in a fully executed Commission Allocation Agreement or Cooperation Agreement between the brokerage firms; and will be paid at closing.

Property Location

7 Monroe Street Burlington

Property Details

Contract Date  Aug 27th, 2024
List Price  479,000 Bedrooms  2 Garage Size   Car
Cooperation Fee  2.5% Total Bathrooms  2 Year Built  1920
MLS#  5008557 Lot Size  0.04 Acres Taxes $7,990
Type  Multi-Family Days on Market  36 Days Tax Year 2024
Units  2 Stories  2 Road Frontage  35
Annual Income  $41,400 Style   Water Frontage  
Annual Expenses  $0 Finished  1,216 Sqft Construction  No, Existing
Zoning   RH Above Grade  1,216 Sqft Seasonal  No
Total Rooms  2 Below Grade  0 Sqft List Date  Aug 7th, 2024
Gross Income  $41,400 Operating Expenses  $0 Net Income  $29,308
Expenses Includes 
Unit 1   1 Beds, 1 Baths, 622 SqFt, $1,650/Monthly Unit 2   1 Beds, 1 Baths, 594 SqFt, $0/Mo
Construction
BasementInterior, Assigned Storage, Unfinished, Locked Storage Space, Interior Stairs
Interior Features
Exterior Features
Exterior   Disability Features  
Foundation  Brick, Concrete House Color  Blue
Floors  Carpet, Laminate, Vinyl Plank Building Certifications  
Roof  Standing Seam, Metal HERS Index  
DirectionsNorth on Battery St, right onto Monroe St (across from Battery Park, after Pearl). Blue house on right. To park on Monroe St, you need a parking pass, one will be located as you enter the front door, on the stairs. Please remember to put it back. If multiple cars, park around corner or at park.
Lot DescriptionUnknown
Garage & Parking  No
Road Frontage  35 Water Access  
Driveway  Dirt Water Type  
Flood Zone  Unknown Water Body  
Zoning  RH
School District  Burlington School District Middle  Assigned
Elementary  Assigned High  Burlington High School
Heat Fuel   Excluded  
Heating/Cool  None, Vented Gas Heater Negotiable  
Sewer  Public Parcel Access ROW  
Water   ROW for Other Parcel  No
Water Heater   Financing  
Cable Co  Comcast Documents  Property Disclosure, Lease Agreements, Deed
Electric  Circuit Breaker Tax ID  114-035-14991
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✱ If you engage a brokerage firm to represent you in a real estate transaction, you are responsible for compensating the firm according to the terms of your brokerage service agreement. Compensation to be paid under a brokerage service agreement is solely and entirely a matter of negotiation between an agent and client and is in no way controlled, fixed, or pre-established. Historically, cooperation fees were published in the Multiple Listing Service (MLS) for each Listing. Recent changes to the rules, prohibit the publication of these fees in the MLS but allow the display on a brokerage's website for their Clients' listings.