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Listed by Blake M Gintof • Signature Properties of Vermont • jarahr@signaturepropertiesvt.com
$ 1,249,900
Est. payment /mo
New
24-28 North ST Burlington, VT 05401
10 Beds
4 Baths
4,198 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,198 sqft
Price per Sqft $297
MLS Listing ID 5098360
Bedrooms 10
Full Baths 4
Construction Status Existing
Year Built 1899
Annual Tax Amount $14,470
Tax Year 2026
Lot Size 1,306 Sqft
Acres 0.03
Property Description
**Prime Burlington Investment Opportunity!** Perfectly positioned in one of Burlington's most desirable downtown locations, this classic 4-unit multi-family property offers investors an exceptional opportunity to own a piece of the city's history while unlocking significant upside potential. Just a short stroll to the scenic shores of Lake Champlain, Waterfront Park, Church Street Marketplace, the Burlington Bike Path, restaurants, shopping, entertainment, and UVM, this location continues to attract strong rental demand year after year. This well-maintained building blends timeless character with outstanding value-add potential. Two apartments are currently occupied, while two additional units have recently been refreshed and are turnkey, rent-ready, and actively being marketed for new tenants. Another long-term occupied unit presents an excellent opportunity for future cosmetic improvements and increased rental income upon turnover. Current gross rental income is approximately **$110,100 annually**, with projected rents nearing **$126,300**, offering investors a clear path to increased cash flow through continued optimization. At the current asking price, the property offers an attractive **6.64% cap rate**, with the potential to achieve approximately a **7.84% cap rate** once stabilized at market rents. Financials also reflect strong upside through strategic management and continued improvements. Whether you're expanding an existing portfolio, completing a 1031 exchange, or seeking a value-add investment in one of Vermont's strongest rental markets, this property checks all the boxes with an unbeatable location, immediate income, future appreciation potential, and significant room to maximize returns. Opportunities like this in the heart of Burlington are increasingly difficult to find—don't miss your chance to capitalize on this exceptional investment.
Location
State VT
County Vt-chittenden
Area Vt-Chittenden
Zoning NMU
Rooms
Basement Entrance Interior
Basement Interior Stairs, Unfinished, Interior Access, Basement Stairs
Interior
Cooling None
Exterior
Utilities Available Cable
Roof Type Flat,Membrane,Asphalt Shingle
Building
Story 3
Sewer Public
Architectural Style Multi-Family, Multi-Level
Construction Status Existing
Schools
School District Burlington School District
MORTGAGE CALCULATOR
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