Property Description

Well-maintained and thoughtfully updated three-unit property in a prime Burlington rental location, offering strong income performance and long-term appeal. The building features two spacious three-bedroom units and a newly created one-bedroom apartment on the third floor. Units are currently at or near market rents and operating at an approximate 9% cap rate—without the need for rent increases! First floor unit is rented through May 2027, Second floor unit is leased through May 2026. Both units have seen meaningful improvements, including an upgraded bathroom in the first-floor unit, an expanded kitchen in the second-floor unit, a newer hot water tank, as well as an extended rear stairway and roofline. The third floor has been fully transformed from unfinished storage into a modern one-bedroom apartment featuring a new kitchen, tiled shower bath, spray-foam insulation, energy-efficient lighting, mini-split heating and cooling, and integrated smart-home systems controlling climate, lighting, built-in speakers, music, and security. This unit is currently vacant, allowing flexibility for an owner-occupant or the opportunity to lease a brand-new apartment at prevailing market rates. Additional features include shared laundry and a newly installed full-building fire sprinkler system for safety. Situated in a high-demand location between UVM and Church Street, this is a compelling opportunity for investors, owner-occupants, or parents seeking housing for their college-age children.