Triplex with Detached
For Sale
$549,000
1480 North Avenue, Burlington, VT 05408
Three-unit property with varied apartment layouts, separate utilities, outdoor space, and off-street parking near Burlington amenities.
Property Size1,724 SF
Price / SF$318.45
Days on Market51
Property Features for 1480 North Avenue
General Information
Standard status
Active
Size
1,724 SF
Property subtype
Multi-Family
Zoning
LD
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,680
Building Details
Year Built
1930
Stories
2
Listing Agency:
KW Vermont
(802) 760-9815
Listed By:
Prabin Pokhrel
(802) 363-0315
Source:
Churchillprop
Added: Aug 25
Changed: Oct 10
Last Checked: Oct 12 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Vermont
Investment Insights
Based on property information with market context.
This three-unit residential property at 1480 North Ave in Burlington occupies a corner lot with mature trees and substantial outdoor space. The apartment mix includes one-bedroom and two-bedroom units, with practical layouts and hardwood flooring in many living areas. Separate utilities support straightforward property management, while off-street parking and a detached two-car garage add functional value for residents or ownership use.
The property is located in Burlington’s New North End, near shopping, grocery stores, restaurants, schools, and public transportation. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are nearby. Downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are also within easy reach. Built in 1930, the property provides a multi-unit configuration in an established residential setting.
The property is located in Burlington’s New North End, near shopping, grocery stores, restaurants, schools, and public transportation. Leddy Park, public beaches, walking and biking paths, and Lake Champlain recreation are nearby. Downtown Burlington, Church Street Marketplace, UVM Medical Center, and Colchester are also within easy reach. Built in 1930, the property provides a multi-unit configuration in an established residential setting.
Key Highlights
- Triplex with a mix of 1‑bedroom and 2‑bedroom apartments
- Detached 2‑car garage plus ample off‑street parking
- Separate utilities for the individual units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,041
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,820
$380.8K
Cap Rate 7%
$272,014
$272.0K
Cap Rate 9%
$211,567
$211.6K
Market Conditions
NOI Build-Up for 1,724 SF
Gross rent
$27.5K $15.96/SF
− Vacancy
−$314 −$0.18/SF
EGI
$27.2K $15.78/SF
− OpEx
−$8.2K −$4.73/SF
NOI
$19.0K $11.04/SF
Area
Chittenden County, VT
Vacancy
1.14%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,820
Cap Rate 7%
$272,014
Cap Rate 9%
$211,567
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$240.9K
$210.8K – $281.1K
NOI $16,863 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$472.9K
$413.8K – $551.7K
NOI $33,101 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 05408, VT
10,425
Population
4,455
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$98,656
Median Household Income
$52,934
Median Earnings
$1,573
Median Rent
$369,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied apartment layouts, separate utilities, outdoor space, and off-street parking near Burlington amenities.
Where is this triplex located?
The property is located at 1480 North Avenue Burlington, VT.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Triplex with a mix of 1‑bedroom and 2‑bedroom apartments; Detached 2‑car garage plus ample off‑street parking; Separate utilities for the individual units
