484-488 Un St Burlington, VT 05401
- Apartment buildings
- 0.15 lot acres
Feb 13, 2023
Current Use by Public Records
- Apartment buildings
Property Details for 484-488 Un St
- Lot size
- 0.15 lot acres
- Zone code
- RL
- Property type
- Apartment buildings
- APN
- (035) 054-1-064-000
- APU
- 350541064000
Description
This exceptional four-unit apartment building, located at 484-488 S Union St, Burlington, VT 05401, presents a compelling investment opportunity. The property, built in 1928 and situated on a 0.15-acre lot, boasts 3,120 square feet and offers a compelling blend of historical charm and modern updates. The building comprises three units within a triplex and a separate one-bedroom cottage, originally a Sears Roebuck home. Two units feature two bedrooms each, while the third unit on the top floor offers one bedroom and stunning Lake Champlain views. The separate cottage provides a unique one-bedroom floor plan. All units benefit from hardwood floors and separate utilities, including water. Ample paved parking is available. The current NOI is $50,967, with a pro-forma NOI of $74,967, resulting in a current cap rate of 4.63% and a pro-forma cap rate of 6.82%. The asking price is $1,100,000, or $275,000 per unit. The property is zoned RM and presents an ideal opportunity for both owner-occupiers and investors seeking a strong return on investment in a desirable Burlington location. Recent updates enhance the property's condition and appeal. This is a rare chance to acquire a well-maintained multifamily property with significant upside potential in a thriving Vermont market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burlington
- County
- Chittenden
- State
- Vermont
- Longitude
- -73.2074
- Latitude
- 44.4665
- CBSA code
- 15540
- CBSA name
- BURLINGTON-SOUTH BURLINGTON, VT METROPOLITAN STATISTICAL AREA
