21-25 Elmwood Avenue

21-25 Elmwood Avenue

Burlington, VT 05401

$2,925,000
Price
—
Beds
9,987 Sq. Ft.
$293 / Sq. Ft.
9,987
Sq. Ft.
$293
per Sq. Ft.

Description

A 19-unit multi-family property in the heart of downtown Burlington, adjacent to the Federal Building/Post Office and within a block of Church Street, holds immense value due to its prime location. The consistent lack of vacancies speaks volumes about the desirability of these units, indicating a strong demand from potential tenants. The property's composition, including a stand-alone single-family 3-bedroom carriage house and the main building with 18 units (one used as a maintenance office), offers...A 19-unit multi-family property in the heart of downtown Burlington, adjacent to the Federal Building/Post Office and within a block of Church Street, holds immense value due to its prime location. The consistent lack of vacancies speaks volumes about the desirability of these units, indicating a strong demand from potential tenants. The property's composition, including a stand-alone single-family 3-bedroom carriage house and the main building with 18 units (one used as a maintenance office), offers diversity and potential for different rental strategies. Moreover, the recent updates, such as the new boiler and hot water tanks, demonstrate a commitment to maintenance and modernization, making the property even more attractive to potential buyers. Given the scarcity of properties of this size and caliber in such a prime location, this opportunity could be highly sought-after by investors looking to capitalize on a stable, income-generating asset in downtown Burlington. Already a 8% cap rate with easy room for improvement.
  1. Listed by Smith Macdonald Group • Coldwell Banker Carlson Real Estate

Property Details for 21-25 Elmwood Avenue

Zoning
Res-High Den

Location

Listing Courtesy of Coldwell Banker Carlson Real Estate
Add your commute
LISTING UPDATED: 02/29/2024 02:38 PM

Property Details for 21-25 Elmwood Avenue

StatusActive
MLS #4980375
Days on Market135
Taxes$61,486 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1900
Lot Size0.26 AC / 11,325 SF
CountyChittenden County

Location

Listing Courtesy of Coldwell Banker Carlson Real Estate
Add your commute

Building Information for 21-25 Elmwood Avenue

Stories2Residences19Year Built1900Building Size-Lot Size0.26 AC / 11,325 SF

Payment Calculator

$21,087 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,963

Property Taxes

$5,124

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 21-25 Elmwood Avenue

Summary
Location and General Information
  • City: Burlington
  • County: VT-Chittenden
  • Latitude: 44.481177000001004
  • Longitude: -73.213864999999998
  • Road Frontage: Yes
  • Seasonal: No
  • State: VT
  • Street Designation: Avenue
  • Zip Code: 05401
Taxes and HOA Information
  • SPAN Number: 1114-035-15347
  • Tax - Gross Amount: $61,486.00
  • Tax Year: 2023
  • Taxes TBD: No
Parking
  • Garage: No
  • Driveway: Paved
Virtual Tour
Property
Lot Information
  • Lot - Sqft: 11326.0
  • Lot Size Acres: 0.26
  • Road Frontage Length: 75.0
  • Square Feet Apx Finished Above Grade: 9987.0
  • Square Feet Apx Finished AG Source: Assessor
  • Square Feet Apx Finished Below Grade: 0.0
  • Square Feet Apx Finished BG Source: Assessor
  • Square Feet Apx Total: 14655.0
  • Square Feet Apx Total Finished: 9987.0
  • Square Feet Apx Unfinished Above Grade: 0.0
  • Square Feet Apx Unfinished AG Source: Assessor
  • Square Feet Apx Unfinished Below Grade: 4668.0
  • Square Feet Apx Unfinished BG Source: Assessor
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Flood Zone: No
  • Foundation: Concrete
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1900
Utilities
  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Utilities: Cable, Underground Utilities
  • Separate Utilities: Varies
Interior and Exterior Features
Exterior Features
  • Roads: Public
  • Roof: Shingle - Asphalt
Interior Features
  • Appliances: Water Heater–Natural Gas
  • Basement: Yes
  • Basement Access Type: Interior
  • Basement Description: Concrete, Unfinished
  • Heat Fuel: Electric, Gas - Natural
  • Heating: Hot Water
  • Cooling: None
  • Total Stories: 2
Multi Family
Income & Expenses Information
  • Gross Income: $288,000.00
  • Net Income: $200,000.00
  • Operating Expense Incl: Heat, Insurance, Maintenance, Snow Removal, Trash, Water/Sewer
  • Operating Expense: $88,000
Multi-Family Information
  • Total Units: 19
  • Total 1 BR Units: 15
  • Total 2 BR Units: 2
  • Total 3+ BR Units: 1

Property History for 21-25 Elmwood Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 21-25 Elmwood Avenue

Taxable ValueLand$360,000Additions$2,424,600Total$2,784,600
Tax Record2022$58,737 ($4,895 / month)
Home Facts
Lot Size11,326 SqFtStyleMulti-Family Res (5+ Units)ZoningRHCountyCHITTENDENAPN(035) 044-4-044-000

Schools near 21-25 Elmwood Avenue

This home is within Burlington School District.
Rating
School
Type
Grades
Distance
Sustainability Academy At Lawrence Barnes
Public - PK to 5
Lyman C. Hunt Middle School
Public - 6 to 8
Burlington Senior High School
Public - 9 to 12
Burlington Technical Center
Public - 9 to 12
Rating
School
Distance
Sustainability Academy At Lawrence Barnes
PublicPK to 5

Lyman C. Hunt Middle School
Public6 to 8

Burlington Senior High School
Public9 to 12

Burlington Technical Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

Homes for Sale near Old North End

Neighborhoods

Cities

ZIPs

More information about 21-25 Elmwood Avenue, Burlington, VT 05401

21-25 Elmwood Avenue is a multi-family home for sale in Burlington, VT 05401. This property was listed for sale on December 16, 2023 by Coldwell Banker Carlson Real Estate, it's currently listed at $2,925,000. It has been on the market for a total of 135 days and was last sold on May 25, 2022. This listing's school district is Burlington School District. Nearby schools include Sustainability Academy At Lawrence Barnes, Lyman C. Hunt Middle School and Burlington Senior High School. 21-25 Elmwood Avenue is a 0-bed, 0-bath, 9,987 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Carlson Real Estate

Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 04/29/2024 07:29 AM