Turnkey 6-Unit Brick
198-200 King Street Burlington, VT 05401
198-200 King Street, Burlington, VT, 05401
$1,325,000
For Sale
$1,325,000
Brick 6-unit property with five 1-bedroom units and one 4-bedroom unit, updated electrical, and a current CO valid through 2031.
Property Size4,773 SF
Price / SF$277.60
Days on Market106
Property Features for 198-200 King Street
General Information
- Standard status
- Active
- Size
- 4,773 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1915
Listing agency
Coldwell Banker Hickok and Boardman
(802) 846-8800
Listed by
Lipkin Audette Team
(802) 846-8800
Source
Compass
Added: Apr 7 Updated: Jul 21 at 1:36AM Checked: Jul 21 at 1:36AM
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 and Boardman
Investment Insights
Based on property information with market context.
This well-kept 6-unit brick multi-family includes five 1-bedroom apartments and one 4-bedroom unit. The property has front and rear porches and a large full basement for storage. Recent capital improvements include updated electrical systems with separate panels for each unit. Tenants pay their own heat and electricity, supporting low owner operating expenses. A current Certificate of Occupancy from the City is in place and valid through 2031.
The building is located just moments from the Church Street Marketplace and provides immediate access to downtown Burlington’s retail, dining, and employment areas.
With its updated electrical infrastructure, existing apartment mix, and current CO status, the property is offered as a turn-key residential income asset in Burlington’s core rental market.
The building is located just moments from the Church Street Marketplace and provides immediate access to downtown Burlington’s retail, dining, and employment areas.
With its updated electrical infrastructure, existing apartment mix, and current CO status, the property is offered as a turn-key residential income asset in Burlington’s core rental market.
Key Highlights
- Brick 6‑unit multi‑family (built 1915) with five 1‑bedroom apartments and one 4‑bedroom unit
- Separate electrical panels for each unit; recent electrical system updates
- Tenants pay their own heat and electricity; heating via natural gas and space heaters
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 | $85.9k | $18.00 |
| − Vacancy | −$1.0k | −$0.22 |
| EGI | $84.9k | $17.78 |
| − OpEx | −$38.2k | −$8.00 |
| NOI | $46.7k | $9.78 |
4,773 SF · lease $18.00/SF/yr · vacancy 1.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$666.9K
$583.6K – $778.1K
NOI $46,686 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,642 @ 7.0% cap · market cap 6.92%
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 - Brick 6-unit property with five 1-bedroom units and one 4-bedroom unit, updated electrical, and a current CO valid through 2031.
Where is this apartment building located?
The property is located at 198-200 King Street Burlington, VT.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Brick 6‑unit multi‑family (built 1915) with five 1‑bedroom apartments and one 4‑bedroom unit; Separate electrical panels for each unit; recent electrical system updates; Tenants pay their own heat and electricity; heating via natural gas and space heaters
