Multifamily Property for Sale in Essex Junction, VT

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Essex Junction, VT 05452
  • Year built: 1980

Description

Marcus & Millichap is pleased to present River Hill MHP, located in Essex Junction, VT (Burlington-South Burlington VT, MSA), a stabilized, cash-flowing manufactured housing community consisting of 15 total lots with immediate upside through infill, rent growth, and operational improvements. River Hill MHP is located in the Burlington-South Burlington VT, MSA - Vermont's most populous region, and sits under 10 miles from downtown Burlington. The area benefits from consistent housing demand, low vacancy rates, and one of the strongest rental markets in the state. Burlington is anchored by institutions such as the University of Vermont and UVM Medical Center and is known for its high quality of life, progressive planning, and stable economy. Manufactured housing in this region serves a broad demographic range including working-class families, retirees, and residents priced out of the traditional housing market. The Burlington-South Burlington MSA is one of the states most attractive markets with citywide 2 bedroom apartment rents averaging $2,100/month and 3-bedroom rents averaging $2,825/month in Burlington. Average home cost ranges from $500,000-$575,000 in Burlington and median household income in the Burlington MSA is $94,310, illustrating the affordability gap that continues to drive strong demand for quality manufactured housing communities. With limited supply of affordable housing, rising homeownership barriers, and a regulatory environment that restricts new park development, this Vermont portfolio offers investors a stabilized, value-add opportunity with meaningful upside. River Hill MHP consists of 15 total lots, including 14 tenant owned homes (TOH) and 1 vacant lot. Lot rent for the TOHs is $585/month and the vacant lot represents immediate infill opportunity and a projected market lot rent of $750/month. River Hill MHP is serviced by public water and sewer (landlord pays, included in rent). Trash is curbside and directly billed to tenants. Electric, gas/

Market Context

This multifamily in Essex Junction, VT is listed for sale. It is offered at an approximate 8.4% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 46 days. Compare it against other multifamily listings for sale in Essex Junction, VT — <a href="/search/sale/multifamily/vermont/essex-junction">view the full market</a>.

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