Price Reduced Listing
24-28 North Street,Burlington, VT 05401
Burlington, VT 05401
Description
**Prime Burlington Investment Opportunity!** Perfectly positioned in one of Burlington's most desirable downtown locations, this classic 4-unit multi-family property offers investors an exceptional opportunity to own a piece of the city's history while unlocking significant upside potential. Just a short stroll to the scenic shores of Lake Champlain, Waterfront Park, Church Street Marketplace, the Burlington Bike Path, restaurants, shopping, entertainment, and UVM, this location continues to attract strong rental demand year after year. This well-maintained building blends timeless character with outstanding value-add potential. Two apartments are currently occupied, while two additional units have recently been refreshed and are turnkey, rent-ready, and actively being marketed for new tenants. Another long-term occupied unit presents an excellent opportunity for future cosmetic improvements and increased rental income upon turnover. Current gross rental income is approximately **$110,100 annually**, with projected rents nearing **$126,300**, offering investors a clear path to increased cash flow through continued optimization. At the current asking price, the property offers an attractive **6.64% cap rate**, with the potential to achieve approximately a **7.84% cap rate** once stabilized at market rents. Financials also reflect strong upside through strategic management and continued improvements. Whether you're expanding an existing portfolio, completing a 1031 exchange, or seeking a value-add investment in one of Vermont's strongest rental markets, this property checks all the boxes with an unbeatable location, immediate income, future appreciation potential, and significant room to maximize returns. Opportunities like this in the heart of Burlington are increasingly difficult to finddon't miss your chance to capitalize on this exceptional investment.
Details
| MLS # | 5098360 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | (10) Active - Active |
| Year | 1899 |
| Days On Site | 44 |
| Listing Provided By | Signature Properties of Vermont | Blake M Gintof |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 4 |
| Zoning | NMU |
| Acreage | 0.03 |
Interior
| Rooms Total | 0 |
|---|---|
| Cooling | None |
| Heating | Gas Heater, Monitor Type |
Exterior
| Roof | Flat, Membrane, Asphalt Shingle |
|---|---|
| Construction Materials | Wood Exterior |
| Foundation Details | Concrete, Fieldstone, Stone |
| Lot Features | City Lot, Corner Lot, Major Road Frontage, Near Shopping, Near Public Transit, Near Hospital |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Utilities | Cable |
|---|---|
| Electric | Circuit Breakers |
| Sewer | Public Sewer |
Taxes
| Tax Annual Amount | 14470.48 |
|---|---|
| Tax Year | 2026 |
Area Information
| State | VT |
|---|---|
| County | Chittenden |
| City | Burlington |
| Zip Code | 05401 |
| Area | VT Chittenden |
| School District | Burlington School District |
| Listing VS Median (in 05401) | |
Price: $1,149,900 low | high Med: $269,000 On site: 44 low | high Med: 517 | |
Market Activity 05401
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Copyright 2026 PrimeMLS. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Listed By
Learn More About This Property
| State | VT |
|---|---|
| County | Chittenden |
| City | Burlington |
| Zip Code | 05401 |
| Area | VT Chittenden |
| School District | Burlington School District |
| Listing VS Median (in 05401) | |
Price: $1,149,900 low | high Med: $269,000 On site: 44 low | high Med: 517 | |
Copyright 2026 PrimeMLS. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
