6-Unit Apartment
380-382 North Avenue, Burlington, VT 05401
For Sale
$1,095,000
Coin-operated laundry and garage/storage space serve the property's residential layout.
Property Size7,039 SF
Price / SF$155.56
Days on Market79
Property Features for 380-382 North Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Road Access
Multifamily Units
Amenities
coin-operated laundry
garage/storage space
Building Details
Year Built
Listing Agency:
BHHS Vermont Realty Group/S Burlington
Listed By:
Robbi Handy Holmes
(802) 881-8193
Source:
Bigislandre
Added: Aug 28
Changed: Nov 12
Last Checked: Nov 12 at 8:24AM
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.
The 7,039-square-foot apartment property contains six units with a total of 12 bedrooms. Improvements have been made to the units over time. Property features include a detached cottage, 14 parking spaces, garage and storage space, and coin-operated laundry.
Located on North Avenue in Burlington, the property has access to area shopping, dining, schools, parks, Lake Champlain, and downtown.
Located on North Avenue in Burlington, the property has access to area shopping, dining, schools, parks, Lake Champlain, and downtown.
Key Highlights
- Six units with 12 bedrooms across the property
- 7,039 square feet; built in 1899
- Detached cottage unit
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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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
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 and garage/storage space serve the property's residential layout.
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 units with 12 bedrooms across the property; 7,039 square feet; built in 1899; Detached cottage unit
