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
Common Area
Self Cleaning Oven
Washer
Range
Oven
Microwave
Dryer
Disposal
Dishwasher
Style - Traditional
Construction - Stucco
High Ceilings
Kitchen Island
Construction - Brick
Cooling - Other
Vaulted Ceilings
Heating - Electric
Heating - Forced Air
Carpet
Laminate
Tile
Vinyl
TOTAL MONTHLY COST
$0
$0
$0