|Address:||83 River Rd.|
|Size:||6,684 sf on 1.35 Acres|
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As exclusive agents, V/T Commercial has been retained to assist in the sale of this attractive investment property. Located a short distance from Five Corners, Essex Junction, and close to all area amenities, services, and retail stores, this secluded eight unit apartment building represents a stable investment in a strong multi-family residential market.
The property consists of 1.35 acres of land fully improved with eight 2-bedroom garden style apartments and totaling a report-ed 6,864 square feet of gross building area. The site features a cleared wooded setting with significant privacy and situated directly across from the Winooski River.
The property is serviced by electric, natural gas, cable, and municipal water & sewer. Constructed in 1978, the building features a partial basement with coin-operated laundry, vinyl siding, double hung insulated windows with screens, and an asphalt shingle roof (7 years in age). Ample parking for 16+/- cars is provided on site. Units are heated by gas-fired Rinnai units, and kitchens are fully furnished/equipped.
The neighborhood consists primarily of single and multi-family residential properties. Convenience to Essex Junction as well as the Circumferential Highway (Route 289) have made this location extremely attractive. As a result, vacancy has been kept to a minimum, and tenancy tends to be very stable and comprised of professional working adults.