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246 East Ave Burlington, VT 05401

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For Sale
$695,000

Income-generating property near the University of Vermont Medical Center.

Lot size:
0.26 Acres

Property Features for 246 East Ave

General Information

Property type
Investment
Standard status
Active
Lot size
0.26 Acres

Building Details

Year built
1957

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Listing Contact
Andrea Champagne
Andrea Champagne
Source: Elliman

Listing Agency: Champagne Real Estate Listing Agent: Andrea Champagne

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Residential Income Property Near UVM

This residential income property is located within walking distance of the University of Vermont Medical Center and The University of Vermont College. The property is currently rented through May 31st 2026, generating an annual gross income of $48,000. A new lease has been signed for the period of June 1st 2026 through May 31st 2027, which will generate an annual gross income of $54,000. The property has been inspected and registered with the city for rental use. The Comprehensive Development Ordinance enacted by the City in 2025 allows for the development of more units, as the property is zoned Residential Lower Intensity. Any development plans would need to be submitted to and approved by the City of Burlington. Showings are available by appointment.
Location Intelligence

Current Use by Public Records

Residential income properties

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Accounting Firm Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Burlington
County
Chittenden
State
Vermont
Longitude
-73.1905
Latitude
44.4756647

FAQs

What type of property is this?
Residential income property - Income-generating property near the University of Vermont Medical Center.
Where is this residential income property located?
The property is located at 246 East Ave Burlington, VT.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: - Development potential with Residential Lower Intensity zoning.; - Currently generating substantial rental income: $48,000 annually through May 31st, 2026, increasing to $54,000 annually from June 1st, 2026, through May 31st, 2027.; - Prime location within walking distance to the University of Vermont Medical Center and The University of Vermont College.
More about this property
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