Sprinklered Multifamily with
For Sale
$749,000
61 South Union Street, Burlington, VT 05401
Sprinklered multifamily property featuring generous parking and a detached single-car garage for convenient tenant access.
Property Size2,849 SF
Price / SF$262.90
Days on Market249
Property Features for 61 South Union Street
General Information
Standard status
Active
Size
2,849 SF
Property subtype
Multi-family
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1899
Listing Agency:
BHHS Vermont Realty Group/Burlington
Listed By:
Charles C. Burns
(802) 862-6433
Source:
Brianfrenchrealestate
Added: Dec 2, 2025
Changed: Jul 10
Last Checked: Aug 7 at 1:53AM
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/Burlington
Investment Insights
Based on property information with market context.
This for-sale multifamily property offers a sprinkler system and good-sized units designed to be straightforward to lease. The building is supported by plentiful on-site parking, and there is also a detached single-car garage on the premises, adding practical off-street storage or parking options.
Located at 61 South Union Street in Burlington, Vermont, the property sits between UVM and downtown, positioning it within a convenient drive-and-park corridor for residents who want access to both campus and city amenities.
With a configuration that supports larger, comfortable units and strong parking availability, this property may suit investors and operators looking for a low-friction residential income building. The sprinkler system is an added building feature for ongoing tenant comfort and basic life-safety infrastructure. Overall, the combination of unit size, parking, and the detached garage makes it a practical candidate for an owner seeking a dependable residential income asset.
Located at 61 South Union Street in Burlington, Vermont, the property sits between UVM and downtown, positioning it within a convenient drive-and-park corridor for residents who want access to both campus and city amenities.
With a configuration that supports larger, comfortable units and strong parking availability, this property may suit investors and operators looking for a low-friction residential income building. The sprinkler system is an added building feature for ongoing tenant comfort and basic life-safety infrastructure. Overall, the combination of unit size, parking, and the detached garage makes it a practical candidate for an owner seeking a dependable residential income asset.
Key Highlights
- Sprinklered multifamily property built in 1899
- Detached single‑car garage provides convenient tenant parking
- Generous on‑site parking available for tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,867
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,340
$557.3K
Cap Rate 7%
$398,100
$398.1K
Cap Rate 9%
$309,633
$309.6K
Market Conditions
NOI Build-Up for 2,849 SF
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.
Gross rent
$51.3K $18.00/SF
− Vacancy
−$615 −$0.22/SF
EGI
$50.7K $17.78/SF
− OpEx
−$22.8K −$8.00/SF
NOI
$27.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,340
Cap Rate 7%
$398,100
Cap Rate 9%
$309,633
Alternative Uses
Best Use
Apartment 5plus
$398.1K
$348.3K – $464.5K
NOI $27,867 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.4K
$683.8K – $911.7K
NOI $54,701 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
4,148
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Sprinklered multifamily property featuring generous parking and a detached single-car garage for convenient tenant access.
Where is this multifamily property located?
The property is located at 61 South Union Street Burlington, VT.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Sprinklered multifamily property built in 1899; Detached single‑car garage provides convenient tenant parking; Generous on‑site parking available for tenants
