Corner Lot Multi-Unit Residential
44-46 Sherman Street Burlington, VT 05401
44-46 Sherman Street, Burlington, VT, 05401
$659,000
For Sale
$659,000
MULTI_FAMILY - Other - Burlington, VT
Property Size2,976 SF
Lot Size0.12 Acres
Price / SF$221.44
Days on Market52
Property Features for 44-46 Sherman Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential- Medium Dens
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Basement, Bedroom 2
- Parking features
- Driveway, Paved or Surfaced, Off Street, Garage
- Patio and Porch features
- Porch
- Exterior features
- Building, Covered Porch, Enclosed Porch, Window Screens, Double Pane Window(s)
- Appliances
- Gas Water Heater, Natural Gas Water Heater, Owned Water Heater
- Standard status
- Active
- Size
- 2,976 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12369
Utilities
- Heating system
- Natural Gas, Hot Water(Heating), Floor Furnace, Other (Heating)
- Water source
- Public
Building Details
- Year built
- 1899
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Combination
- Building materials
- Wood Frame
- Roof type
- Slate
- Architectural style
- Other
Listing Agency
KW Vermont
(802) 654-8500
68 Randall St., South Burlington, VT
Listed by
Louise Johnson
(802) 654-8500
Added: May 29 Checked: Jul 19 at 8:06 am
MLS# 5091803
Listing URL
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-unit residential property consists of a quadplex-style configuration (Multi-Family/Residential income) offered for sale. The site sits on a corner lot and is presented with unobstructed views of Lake Champlain and the Adirondack Mountains. The property is sized at 2,976 square feet and is zoned Residential—Medium Dens.
The asset is described as being in a central downtown area, with public transportation, sidewalks, and a scenic recreational path nearby. The waterfront and waterfront events are noted as being within close reach, supporting everyday convenience for residents. Access is also highlighted to local shopping and dining, as well as the University of Vermont (UVM) and the UVM Medical Center.
For tenants and operators seeking a medium-density residential income asset in a walkable, amenity-rich setting, this property’s corner-lot placement and view orientation are central attributes. It may also appeal to buyers focused on acquiring a multi-unit structure with an established tenant profile, as the remarks reference long-term tenants. Zoning is Residential—Medium Dens, which can align with a variety of residential operating needs within that framework.
The asset is described as being in a central downtown area, with public transportation, sidewalks, and a scenic recreational path nearby. The waterfront and waterfront events are noted as being within close reach, supporting everyday convenience for residents. Access is also highlighted to local shopping and dining, as well as the University of Vermont (UVM) and the UVM Medical Center.
For tenants and operators seeking a medium-density residential income asset in a walkable, amenity-rich setting, this property’s corner-lot placement and view orientation are central attributes. It may also appeal to buyers focused on acquiring a multi-unit structure with an established tenant profile, as the remarks reference long-term tenants. Zoning is Residential—Medium Dens, which can align with a variety of residential operating needs within that framework.
Key Highlights
- Corner‑lot multi‑unit property with views of Lake Champlain and the New York Adirondack Mountains
- Year built: 1899; wood frame construction with a slate roof
- Porch features include a covered porch and an enclosed porch, plus window screens and double‑pane windows
Local Financial Insights For Multifamily LT 5
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 | $47.5k | $15.96 |
| − Vacancy | −$541 | −$0.18 |
| EGI | $47.0k | $15.78 |
| − OpEx | −$14.1k | −$4.73 |
| NOI | $32.9k | $11.04 |
2,976 SF · lease $15.96/SF/yr · vacancy 1.14% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$469.6K
$410.9K – $547.8K
NOI $32,869 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$415.8K
$363.9K – $485.2K
NOI $29,109 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$816.3K
$714.2K – $952.3K
NOI $57,139 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Multi-unit residential property on a corner lot with lake views and zoning for medium-density housing in Burlington.
Where is this quadplex located?
The property is located at 44-46 Sherman Street Burlington, VT.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Corner‑lot multi‑unit property with views of Lake Champlain and the New York Adirondack Mountains; Year built: 1899; wood frame construction with a slate roof; Porch features include a covered porch and an enclosed porch, plus window screens and double‑pane windows
