Bought with Leah Eide • Pursuit Real Estate
$350,000
$258,000
35.7%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
3 Baths
1,970 SqFt
SOLD DATE : 09/17/2024
Key Details
Sold Price $350,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,970 sqft
Price per Sqft $177
MLS Listing ID 5009063
Sold Date 09/17/24
Bedrooms 3
Full Baths 3
Construction Status Existing
Year Built 1850
Annual Tax Amount $4,416
Tax Year 2023
Lot Size 1.000 Acres
Acres 1.0
Property Description
Discover an exceptional investment opportunity with this well-maintained 3 unit building. This property offers three 1 bedroom/1 bathroom units, making it an ideal choice for savvy investors seeking consistent rental income and impressive returns. With its strategic location halfway between Burlington and Middlebury, excellent tenant history, and eco-friendly features, this apartment building presents an enticing prospect for both seasoned investors and home buyers struggling with low inventory trends. Another standout feature of this apartment building is its large landscaped yard, providing tenants with a beautiful outdoor space to relax and enjoy. In addition to its excellent location and tenant demand, this property boasts solar panels, which provide economical electricity to tenants, reduce their utility costs, and generate a revenue stream for the owner, enhancing the property's overall profitability and appeal to environmentally-conscious renters. Speaking of revenue streams, there is also a couple coin op washer/dryers in the basement common area for tenants to use. This apartment building is not just a property; it's a gateway to a lucrative investment opportunity. The combination of its prime location, strong tenant demand, and additional revenue streams makes it a compelling choice for investors looking to diversify their portfolio. The generous 11% cap rate further underscores its investment potential, making it a standout option in today's real estate market.
Location
State VT
County Vt-addison
Area Vt-Addison
Zoning res
Rooms
Basement Entrance Walkout
Basement Full, Unfinished, Exterior Access
Interior
Heating Gas - LP/Bottle
Cooling None
Flooring Carpet, Laminate, Vinyl
Exterior
Garage Description Parking Spaces 6+
Utilities Available Cable - Available
Roof Type Metal,Shingle - Asphalt
Building
Story 2
Foundation Concrete, Stone
Sewer Private, Septic
Construction Status Existing
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