Burlington Multifamily Investment
For Sale
$1,650,000
76 Ethan Allen Parkway, Burlington, VT 05408
Seven-unit property near Ethan Allen Park with income potential.
Property Size5,798 SF
Price / SF$284.58
Days on Market96
Property Features for 76 Ethan Allen Parkway
General Information
Standard status
Active
Size
5,798 SF
Property subtype
Multi Family Home
Zoning
RES
Taxes and HOA fees
Annual Taxes
$32,455
Building Details
Building Size
5,798 SF
Year Built
1988
Stories
2
Units
7
Listing Agency:
Kw Vermont
(802) 777-5941
Listed By:
Kassian Prior
(802) 777-5941
Source:
Threehillsres
Added: May 21
Changed: Aug 23
Last Checked: Aug 3 at 1:28PM
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 Kw Vermont
Investment Insights
Based on property information with market context.
This unique seven-unit investment property is located in Burlington, directly across from Ethan Allen Park. The property features six townhouse-style apartment units and a separate single-family home, offering income potential and flexible rental opportunities. Four of the units have been updated in recent years with new flooring, kitchens, and paint. An expansive parking area provides off-street parking for tenants and guests. The location provides access to walking trails, scenic overlooks, playgrounds, and green space at Ethan Allen Park, and is minutes from downtown Burlington, the University of Vermont, University of Vermont Medical Center, local restaurants, shopping, breweries, and the Burlington Bike Path along Lake Champlain. Major roadways and public transportation are easily accessible. The property is in the Neighborhood Activity Center Zoning District which offers redevelopment potential. The property size is 5798 square feet.
Key Highlights
- Prime location directly across from Ethan Allen Park, offering immediate access to nature, recreation, and scenic views.
- Strong income potential from a 7‑unit property.
- Four units have been recently updated with new flooring, kitchens, and paint.
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
$56,711
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
3.44%
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%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 5,798 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
$104.4K $18.00/SF
− Vacancy
−$1.3K −$0.22/SF
EGI
$103.1K $17.78/SF
− OpEx
−$46.4K −$8.00/SF
NOI
$56.7K $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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,322 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 05408, VT
10,425
Population
4,455
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$98,656
Median Household Income
$52,934
Median Earnings
$1,573
Median Rent
$369,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit property near Ethan Allen Park with income potential.
Where is this apartment building located?
The property is located at 76 Ethan Allen Parkway Burlington, VT.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Prime location directly across from Ethan Allen Park, offering immediate access to nature, recreation, and scenic views.; Strong income potential from a 7‑unit property.; Four units have been recently updated with new flooring, kitchens, and paint.
