484-488 Union St Burlington, VT 05401

This exceptional four-unit apartment building, located at 484-488 S Union St, Burlington, VT 05401, presents a compelling investment opportunity. The property, built in 1928 and situated on a 0.15-acre lot, boasts 3,120 square feet and offers a compelling blend of historical charm and modern updates. The building comprises three units within a triplex and a separate one-bedroom cottage, originally a Sears Roebuck home. Two units feature two bedrooms each, while the third unit on the top floor offers one bedroom and stunning Lake Champlain views. The separate cottage provides a unique one-bedroom floor plan. All units benefit from hardwood floors and separate utilities, including water. Ample paved parking is available. The current NOI is $50,967, with a pro-forma NOI of $74,967, resulting in a current cap rate of 4.63% and a pro-forma cap rate of 6.82%. The asking price is $1,100,000, or $275,000 per unit. The property is zoned RM and presents an ideal opportunity for both owner-occupiers and investors seeking a strong return on investment in a desirable Burlington location. Recent updates enhance the property's condition and appeal. This is a rare chance to acquire a well-maintained multifamily property with significant upside potential in a thriving Vermont market.