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Vermont Real Estate Company

info@vermontrealestatecompany.com +1(802) 540-8300

Listed by Aaron Scowcroft • Northern Vermont Realty Group

$ 4,395,000

Est. payment -/mo

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24-26 Jersey WAY Morristown, VT 05661

13,440 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,440 sqft

Price per Sqft $327

MLS Listing ID 5110520

Construction Status Existing

Year Built 2024

Annual Tax Amount $40,012

Tax Year 2026

Lot Size 0.690 Acres

Acres 0.69

Property Description

Rare opportunity to acquire a turnkey multifamily investment along with a shovel-ready development site in the heart of Morrisville, Vermont. This unique package includes a recently constructed 15-unit apartment building at 24 Jersey Way, as well as an adjacent parcel that is fully permitted with all major utilities and infrastructure already in place for an additional 8 units. Complete building plans are available, allowing a buyer to move forward with development immediately and capitalize on the property's future growth potential with minimal upfront hurdles. The existing 15-unit asset, built in 2024, offers investors modern construction, strong cash flow, and virtually no deferred maintenance. Each unit is equipped with an efficient ducted mini-split heating and cooling system, with air exchangers in each unit, while all-electric utilities throughout the building help streamline operations and reduce ongoing maintenance concerns. With an attractive projected capitalization rate of approximately 7.25% (excluding professional management expenses), the property presents a compelling investment opportunity for both seasoned and first-time multifamily investors alike. Professional vendors and service providers are already in place, creating a truly turnkey ownership experience from day one. Whether your strategy is to hold a stabilized income-producing asset, expand your portfolio through additional development, or pursue both simultaneously, this offering provides therare combination of immediate returns and long-term upside in one of Vermont's growing rental markets.

Location

State VT

County Vt-lamoille

Area Vt-Lamoille

Zoning Residential

Rooms

Basement Entrance Walk-up

Basement Bulkhead, Gravel, No Tenant Access, Unfinished, Exterior Access

Interior

Cooling Individual, Mini Split

Flooring Carpet, Combination, Vinyl Plank

Exterior

Utilities Available Cable Available

Amenities Available Master Insurance, Snow Removal, Landscaping, Common Acreage, Trash Removal

Roof Type Asphalt Shingle

Building

Story 2

Sewer Public

Architectural Style Apartment Building

Construction Status Existing

Schools

Elementary Schools Morristown Elementary School

Middle Schools Lamoille Middle School

High Schools Lamoille Uhsd #18

School District Morristown School District

MORTGAGE CALCULATOR

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

Vermont Real Estate Company

Admin

+1(802) 540-8300 | info@vermontrealestatecompany.com

Vermont Real Estate Company

24-26 Jersey WAY Morristown, VT 05661

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

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24-26 Jersey WAY

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