6-Unit Apartment Building with
For Sale
$1,095,000
380-382 North Avenue, Burlington, VT 05401
Coin-operated laundry, garage and storage space, and substantial on-site parking support the residential configuration.
Property Size7,039 SF
Price / SF$155.56
Days on Market63
Property Features for 380-382 North Avenue
General Information
Standard status
Active
Size
7,039 SF
Property subtype
Multi-family
Building Details
Year Built
1899
Listing Agency:
BHHS Vermont Realty Group/S Burlington
Listed By:
Robbi Handy Holmes
(802) 881-8193
Source:
Aultcommercial
Added: Sep 5
Changed: Nov 5
Last Checked: Nov 4 at 5:06PM
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 BHHS Vermont Realty Group/S Burlington
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Investment Insights
Based on property information with market context.
Built in 1899, this 7,039-square-foot apartment property contains six units with a total of 12 bedrooms. A detached cottage adds a separate living space. The property also includes garage and storage space, coin-operated laundry, and 14 parking spaces. Improvements have been made to the units over time.
The property is on North Avenue in Burlington, with access to shopping, dining, schools, parks, Lake Champlain, and downtown.
The property is on North Avenue in Burlington, with access to shopping, dining, schools, parks, Lake Champlain, and downtown.
Key Highlights
- Six apartments with 12 bedrooms across 7,039 square feet
- Detached cottage on the property
- 14 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,850
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,000
$1.4M
Cap Rate 7%
$983,571
$983.6K
Cap Rate 9%
$765,000
$765.0K
Market Conditions
NOI Build-Up for 7,039 SF
Gross rent
$126.7K $18.00/SF
− Vacancy
−$1.5K −$0.22/SF
EGI
$125.2K $17.78/SF
− OpEx
−$56.3K −$8.00/SF
NOI
$68.8K $9.78/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,000
Cap Rate 7%
$983,571
Cap Rate 9%
$765,000
Alternative Uses
Best Use
Apartment 5plus
$983.6K
$860.6K – $1.15M
NOI $68,850 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,149 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
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Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Coin-operated laundry, garage and storage space, and substantial on-site parking support the residential configuration.
Where is this apartment building located?
The property is located at 380-382 North Avenue Burlington, VT.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Six apartments with 12 bedrooms across 7,039 square feet; Detached cottage on the property; 14 parking spaces
