Seven-Unit Apartment
For Sale
$1,650,000
76 Ethan Allen Parkway, Burlington, VT 05408
Multi-Family, Burlington, VT
Property Size5,798 SF
Lot Size0.53 Acres
Price / SF$284.58
Days on Market98
Property Features for 76 Ethan Allen Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
21
Bathrooms
13
Full bathrooms
13
Rooms
Bedroom 1, Bathroom 9, Bedroom 9, Bedroom 18, Bathroom 3, Bathroom 13, Bathroom 5, Bedroom 13, Bedroom 6, Bedroom 19, Bedroom 2, Bedroom 5, Bathroom 8, Bedroom 8, Bedroom 15, Bedroom 3, Bedroom 4, Bedroom 7, Bathroom 12, Bedroom 21, Bathroom 1, Bedroom 14, Bathroom 10, Bedroom 12, Bathroom 7, Bedroom 17, Bathroom 6, Bathroom 4, Bedroom 11, Bedroom 20, Bathroom 11, Bedroom 16, Bedroom 10, Bathroom 2
Parking features
Driveway
Lot features
City Lot
Elementary school
C. P. Smith School
Middle school
Lyman C. Hunt Middle School
High school
Burlington High School
Elementary school district
Burlington School District
Middle school district
Burlington School District
High school district
Burlington School District
Directions
From downtown Burlington, head north on North Avenue (VT-127/US-7) toward the New North End. Turn left onto Ethan Allen Parkway. Property will be on the left.
Standard status
Active
Size
5,798 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
32455
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Building Details
Year built
1988
Floors in Building
2
Number of units
7
Flooring type
Laminate
Building materials
Wood Frame, Vinyl Exterior, Wood Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Vermont · Keller Williams Realty
(802) 654-8500
Listed By:
Kassian Prior
(802) 654-8500
Added: May 16
Changed: Aug 20
Last Checked: Aug 21 at 1:06AM
MLS# 5089323
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 seven-unit investment property features six townhouse-style apartment units and a separate single-family home. Recent upgrades include new flooring, new kitchens, and new paint for four of the units within the past several years. The building is set up with laminate flooring and is heated with natural gas. Construction includes wood frame with vinyl exterior, and the roof is shingled.
The property sits on a 0.53-acre lot with an expansive parking area designed for off-street tenant and guest parking, supported by driveway access. It is located directly across from Ethan Allen Park, offering immediate access to outdoor recreation and green space.
Zoned RES and described as being within the Neighborhood Activity Center Zoning District, the property may also appeal to buyers looking for redevelopment flexibility, while still offering a diversified rental setup with townhouse-style apartments and an additional single-family residence.
The property sits on a 0.53-acre lot with an expansive parking area designed for off-street tenant and guest parking, supported by driveway access. It is located directly across from Ethan Allen Park, offering immediate access to outdoor recreation and green space.
Zoned RES and described as being within the Neighborhood Activity Center Zoning District, the property may also appeal to buyers looking for redevelopment flexibility, while still offering a diversified rental setup with townhouse-style apartments and an additional single-family residence.
Key Highlights
- Six townhouse‑style apartment units plus a separate single‑family home
- Directly across from Ethan Allen Park
- 0.53‑acre lot with expansive off‑street parking area
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
Lease Details
7
Residential units
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Six townhouse-style units plus a separate single-family home across from Ethan Allen Park.
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: Six townhouse‑style apartment units plus a separate single‑family home; Directly across from Ethan Allen Park; 0.53‑acre lot with expansive off‑street parking area
