Sprinklered Multifamily with
61 South Union Street, Burlington, VT 05401
For Sale
$749,000
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 Market257
Property Features for 61 South Union Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Sprinkler System
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Stories
Listing Agency:
BHHS Vermont Realty Group/Burlington
(802) 527-7556
Listed By:
Charles C. Burns
(802) 864-9856
Source:
Churchillprop
Added: Feb 23
Changed: Oct 31
Last Checked: Nov 6 at 5:50AM
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
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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 / Yr
$27,867
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
$463,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Burlington, VT
Properties on Market for Multifamily properties in Burlington
Vacancy Rate% for Multifamily in Northeast region
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
