Downtown Multifamily Apartment
18 Park Street Burlington, VT 05401
18 Park Street, Burlington, VT, 05401
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For Sale
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Two-building 10-unit multifamily property with studio and one-bedroom apartments and ample parking.
Property Size5,017 SF
Price / SF$289.02
Days on Market68
Property Features for 18 Park Street
General Information
- Standard status
- Active
- Size
- 5,017 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1845
Listing agency
Coldwell Banker Hickok & Boardman
Listed by
Steve Lipkin · License #VT
Source
Crexi
Added: May 15 Updated: Jul 20 at 7:22PM Checked: Jul 20 at 7:22PM
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 Coldwell Banker Hickok & Boardman
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of two buildings totaling 10 apartments, offering a mix of studio and 1-bedroom layouts. The front brick building includes 4 apartments, while the rear building includes 6 single-level apartments with straightforward layouts.
The property is located in Burlington’s downtown area, directly across from Battery Park and moments from the waterfront and bike path, with proximity to Church Street, restaurants, and downtown employers.
The buildings are described as well maintained, with fresh paint. Tenants are noted as paying heat and electric, and the rear building is described as having ample parking, supporting everyday convenience for residents.
The property is located in Burlington’s downtown area, directly across from Battery Park and moments from the waterfront and bike path, with proximity to Church Street, restaurants, and downtown employers.
The buildings are described as well maintained, with fresh paint. Tenants are noted as paying heat and electric, and the rear building is described as having ample parking, supporting everyday convenience for residents.
Key Highlights
- Two‑building, 10‑unit multifamily property built in 1845
- Includes 4 apartments in the front brick building and 6 single‑level apartments in the rear building
- Unit mix features studios and 1‑bedroom apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.3k | $18.00 |
| − Vacancy | −$1.1k | −$0.22 |
| EGI | $89.2k | $17.78 |
| − OpEx | −$40.2k | −$8.00 |
| NOI | $49.1k | $9.78 |
5,017 SF · lease $18.00/SF/yr · vacancy 1.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$701.0K
$613.4K – $817.9K
NOI $49,072 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,326 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two-building 10-unit multifamily property with studio and one-bedroom apartments and ample parking.
Where is this apartment building located?
The property is located at 18 Park Street Burlington, VT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two‑building, 10‑unit multifamily property built in 1845; Includes 4 apartments in the front brick building and 6 single‑level apartments in the rear building; Unit mix features studios and 1‑bedroom apartments
