61 Elmwood Avenue

61 Elmwood Avenue

Burlington, VT 05401

$2,395,000
Price
—
Beds
16
Baths
8,736 Sq. Ft.
$274 / Sq. Ft.
8,736
Sq. Ft.
$274
per Sq. Ft.

Description

The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally,...The location offers many advantages with its proximity to essential amenities like Pearl Street, Church Street, the waterfront, universities and colleges, and the medical center. The setup of 16 one-bedroom condos with hardwood flooring and tile, along with off-street parking and laundry facilities, is attractive for tenants. The fact that the property is condominiumized is a significant advantage as it allows potential buyers to sell units individually, which can be a great selling point. Additionally, the ease of renting, managing, and maintaining the property makes it even more appealing. Properties in sought-after areas like this can indeed be rare finds. The location, amenities, and potential for future flexibility could make it a highly desirable investment for real estate investors. The current cap rate is 7%, with the ability to quickly increase the monthly rents within year one of ownership.
  1. Listed by Smith Macdonald Group • Coldwell Banker Carlson Real Estate

Property Details for 61 Elmwood Avenue

Parking
Off Street, Parking Spaces 11 - 20
Zoning
Res-High Den

Location

Listing Courtesy of Coldwell Banker Carlson Real Estate
Add your commute
LISTING UPDATED: 02/23/2024 04:54 PM

Property Details for 61 Elmwood Avenue

StatusActive
MLS #4980374
Days on Market135
Taxes$39,670 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1920
Lot Size0.30 AC / 13,068 SF
CountyChittenden County

Location

Listing Courtesy of Coldwell Banker Carlson Real Estate
Add your commute

Building Information for 61 Elmwood Avenue

Stories2Residences16Year Built1920Building Size-Lot Size0.30 AC / 13,068 SF

Payment Calculator

$16,376 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,070

Property Taxes

$3,306

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 61 Elmwood Avenue

Summary
Location and General Information
  • City: Burlington
  • County: VT-Chittenden
  • Latitude: 44.482175690629667
  • Longitude: -73.213907965606694
  • Road Frontage: Yes
  • Seasonal: No
  • State: VT
  • Street Designation: Avenue
  • Zip Code: 05401
Taxes and HOA Information
  • SPAN Number: 114-035-15352
  • Tax - Gross Amount: $39,670.00
  • Tax Year: 2023
  • Taxes TBD: No
Parking
  • Garage: No
  • Driveway: Paved
Virtual Tour
Property
Lot Information
  • Lot - Sqft: 13068.0
  • Lot Size Acres: 0.3
  • Road Frontage Length: 75.0
  • Square Feet Apx Finished Above Grade: 8736.0
  • 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: 10752.0
  • Square Feet Apx Total Finished: 8736.0
  • Square Feet Apx Unfinished Above Grade: 672.0
  • Square Feet Apx Unfinished AG Source: Assessor
  • Square Feet Apx Unfinished Below Grade: 1344.0
  • Square Feet Apx Unfinished BG Source: Assessor
Property and Assessments
  • Property Class: Multi-Family
  • Construction Status: Existing
  • Flood Zone: No
  • Foundation: Stone
  • PreConstruction: No
  • Surveyed: Unknown
  • Year Built: 1920
Utilities
  • Electric Company: BED
  • Fuel Company: VT Gas
  • Electric: Circuit Breaker(s)
  • Sewer: Public
  • Utilities: Internet - Cable
  • Total Electric Meters: 16
Interior and Exterior Features
Exterior Features
  • Roads: Public
  • Roof: Membrane, Standing Seam
Interior Features
  • Basement: Yes
  • Basement Access Type: Walk-up
  • Basement Description: Exterior Access
  • Total Full Baths: 16
  • Heat Fuel: Gas - Natural
  • Heating: Baseboard, Electric, Gas Heater
  • Cooling: None
  • Total Refrigerators: 16
  • Total Stories: 2
Multi Family
Income & Expenses Information
  • Gross Income: $240,000.00
  • Net Income: $180,000.00
  • Operating Expense Incl: Insurance, Maintenance, Snow Removal, Trash, Utilities, Water/Sewer
  • Operating Expense: $60,000
Multi-Family Information
  • Total Units: 16
  • Total 1 BR Units: 16
  • Total 2 BR Units: 0
  • Total 3+ BR Units: 0

Property History for 61 Elmwood Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 61 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.

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More information about 61 Elmwood Avenue, Burlington, VT 05401

61 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 $2,395,000. It has been on the market for a total of 135 days and was last sold on September 16, 2021. 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. 61 Elmwood Avenue is a 0-bed, 16-bath, 8,736 sqft multi-family home built in 1920.

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 08:28 AM