61 Elmwood AvenueBurlington, VT 05401MLS Number 4980374

  • Price: $2,395,000
  • Est. Mortgage of $/month
  • 72 Days on Market
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Federal 30-year interest rate: 6.9% last updated on Feb 22, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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61 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 0540161 Elmwood Avenue Burlington VT 05401
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  • 0.3Acreage
  • 16Bathrooms
  • 1920Year Built
  • 8,736Square Feet

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Listed by Smith Macdonald Group of Coldwell Banker Carlson Real Estate
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.

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More Info

Tax Information

  • Tax Year2023

Building

  • Year Built1920
  • Building ConstructionWood Frame
  • StyleMulti-Family
  • Units16
  • # of 1 Bedrooms16
  • Bathroom16
  • Total Baths16
  • BasementExterior Access
  • FoundationStone

Amenities

  • PricePerSqFt274.15

Other

  • Taxes$39,670
  • Seasonal Y/NNo
  • Date Listed12/16/2023
  • View Count10

Basic Information

  • StatusACT
  • List Price$2,395,000
  • Date Price Change02/23/2024
  • MLS Number4980374
  • MLS StatusActive

Property

  • Acreage0.3
  • Parking Spaces
  • Lot DescriptionCity Lot, Level, Sidewalks
  • Square Feet8,736
  • APX Fin AG Sqft8,736
  • Road Frontage75
  • RoadsPublic

Location

  • TownBurlington
  • StateVT
  • Zip05401
  • CountyChittenden
  • ZoningRes-High Den
  • Flood Zone Y/NNo

Exterior

  • ExteriorBrick, Vinyl Siding, Wood Siding
  • RoofMembrane, Standing Seam

Utilities

  • Heat FuelGas - Natural
  • Heat SystemBaseboard, Electric, Gas Heater
  • WaterPublic
  • Water HeaterOwned
  • ElectricCircuit Breaker(s)
  • SewerPublic
  • UtilitiesInternet - Cable
Dousevicz Real Estate
Dousevicz Real Estate
Office: 802-879-4477
21 Carmichael St
Essex, VT 05452
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Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display 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 February 25, 2024 7:38 PM EST

 

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