10.1% cap rate on a mixed use building in downtown Burlington featuring 6 apartment units and 2 commercial spaces all fully occupied. Burlington is in high demand for rentals as wind energy and gas pipeline employees are moving to the area at an unprecedented rate. Opportunity for increased NOI with about half of the current apartments units being leased at below market rents. Current owner has updated/remodeled all apartments, installed new mini split hvac systems, installed a new commercial wifi monitored hot water heater, and invested in a ton of miscellaneous upgrades over the last three years of ownership. Additional income with coin laundry located on second floor. Please reach out to listing agent to schedule viewing - please do not bother tenants.
6,521 Sq Ft
Other
$2,237 Annual Tax
Built in 1904
MLS/Listing ID 4587959
Heating - Electric
Vinyl
Tile
Laminate
Carpet
Heating - Forced Air
High Ceilings
Dishwasher
Disposal
Cooling - Other
Dryer
Microwave
Oven
Kitchen Island
Vaulted Ceilings
Common Area
Range
Self Cleaning Oven
Washer
Style - Traditional
Construction - Brick
Construction - Stucco
TOTAL MONTHLY COST
-
-
-