Wonderful Burlington, VT North End investment opportunity! With both a duplex-style and a single-family style building located on the same .15 /- acre lot, the property consists of 3 living units that share a huge driveway and parking area. All units are currently leased. The current gross income is $105,600 per year with total tax and operating expenses of $19,053 per year. By June 1, 2023, the seller anticipates income of $111,000 with a net of $91,947 for a cap rate at list price of almost 7%. The duplex features two 3-bedroom apartments with a basement storage area. The single-family style building is located at the back of the lot and offers 4 bedrooms, 2 bathrooms, a nice living area, a big kitchen, and a lovely front deck. Both buildings share a small yard with picnic benches for the tenants shared enjoyment. Off-street parking is never an issue with the large driveway. Seller has historically repainted and made repairs to the units at each tenant changeout, and the units are in good condition. Seller is in the process of requesting an updated rental compliance inspection. Rental registry is due April 1. A new roof was installed on the duplex in 2021. Seller had 50% of the duplex exterior and 75% of the single-family exterior painted in 2020. The property is just before the intersection of Ward Street and North Ave. Easy access to the bus service, UVM, Champlain College, and hospital.
- Price:
- $1,350,000
- Bedrooms:
- 10
- Full Baths:
- 4
- Square Footage:
- 2,816
- Acreage:
- 0.15
- Year Built:
- 1899
- Listing ID #:
- 4942613
- Street Address:
- 20-22 Ward Street
- City:
- Burlington
- State:
- Vermont
- Postal Code:
- 05401
- County:
- Chittenden
- Listing Status:
- Active
- Listing Type:
- ResidentialAttached
- Basement Access:
- Interior
- Basement Description:
- Exterior Access, Interior Access, Unfinished
- Building Color:
- Blue
- Construction Description:
- Wood Frame
- Construction Status:
- Existing
- Exterior Features:
- Fence - Partial, Porch - Covered
- Finished Above Ground Square Footage:
- 2816
- Finished Square Feet:
- 2816
- Flooring:
- Carpet, Combination, Laminate, Vinyl, Wood
- Foundation:
- Brick, Concrete, Stone
- Has Basement:
- Yes
- Number Of Units:
- 3
- Siding:
- Clapboard
- Stories:
- 2
- Style:
- Deck House, Multi-Family, Other
- Total Building Square Footage:
- 3952
- Type Of Roof:
- Shingle - Asphalt, Slate
- Unfinished Basement Square Footage:
- 1136
- Unit1 Bathrooms:
- 1
- Unit1 Bedrooms:
- 4
- Unit1 Square Footage Range:
- 1276
- Unit1 Total Rooms:
- 6
- Unit2 Bathrooms:
- 1
- Unit2 Bedrooms:
- 3
- Unit2 Square Footage Range:
- 836
- Unit2 Total Rooms:
- 5
- Unit3 Bathrooms:
- 2
- Unit3 Bedrooms:
- 3
- Unit3 Square Footage Range:
- 704
- Unit3 Total Rooms:
- 5
- Year Built:
- 1899
- Gross Income:
- 105600
- Net Operating Income:
- 86547
- Operating Expense:
- 19053
- Conforms To Zoning:
- Residential - Medium Dens
- Lot Description:
- City Lot, Level, Open, Sidewalks, Street Lights
- Lot Square Footage:
- 6534
- Road Frontage:
- 50
- Road Type:
- Paved, Public
- Days On Market:
- 53
- Price Per Square Foot:
- 479.40
- Property Taxes:
- $15,203
- Tax Year:
- 2022
- Driveway:
- Paved
- Parking Description:
- Driveway, Off Street, On-Site, Paved
- Electricity:
- Circuit Breaker(s), On-Site
- Existing Water:
- Public, Public Water - On-Site
- Heating:
- Baseboard, Hot Water
- Heating Fuel:
- Gas - Natural
- Sewage Type:
- Public, Public Sewer On-Site
- Utilities:
- Cable - Available, Fiber Optic Internt Avail, High Speed Intrnt -Avail, Telephone Available
- Water Heater:
- Gas - Natural
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By: Curtis Trousdale (Off: 802-862-9106) with Preferred Properties
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