24-26 Jersey WAY, Morristown, VT 05661
24-26 Jersey WAY, Morristown, VT 05661
24-26 Jersey WAY, Morristown, VT 05661
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Listed by Aaron Scowcroft • Northern Vermont Realty Group
$3,995,000
Est. payment /mo
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13,440 SqFt
Price Dropped by $400K

24-26 Jersey WAY Morristown, VT 05661

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Kathryn Zambon

Kathryn Zambon

+1(802) 417-2311

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,440 sqft

Price per Sqft $297

MLS Listing ID 5110520

Construction Status Existing

Year Built 2024

Annual Tax Amount $40,012

Tax Year 2026

Lot Size 0.690 Acres

Acres 0.69

Property Description

Rare opportunity to acquire a turnkey multifamily investment along with a shovel-ready development site in the heart of Morrisville, Vermont. This unique package includes a recently constructed 15-unit apartment building at 24 Jersey Way, as well as an adjacent parcel that is fully permitted with all major utilities and infrastructure already in place for an additional 8 units. Complete building plans are available, allowing a buyer to move forward with development immediately and capitalize on the property's future growth potential with minimal upfront hurdles. The existing 15-unit asset, built in 2024, offers investors modern construction, strong cash flow, and virtually no deferred maintenance. Each unit is equipped with an efficient ducted mini-split heating and cooling system, with air exchangers in each unit, while all-electric utilities throughout the building help streamline operations and reduce ongoing maintenance concerns. With an attractive projected capitalization rate of approximately 7.25% (excluding professional management expenses), the property presents a compelling investment opportunity for both seasoned and first-time multifamily investors alike. Professional vendors and service providers are already in place, creating a truly turnkey ownership experience from day one. Whether your strategy is to hold a stabilized income-producing asset, expand your portfolio through additional development, or pursue both simultaneously, this offering provides therare combination of immediate returns and long-term upside in one of Vermont's growing rental markets.

Location

State VT

County Vt-lamoille

Area Vt-Lamoille

Zoning Residential

Rooms

Basement Entrance Walk-up

Basement Bulkhead, Exterior Access, Gravel, No Tenant Access, Unfinished

Interior

Cooling Individual, Mini Split

Flooring Carpet, Combination, Vinyl Plank

Exterior

Utilities Available Cable Available

Amenities Available Common Acreage, Landscaping, Master Insurance, Snow Removal, Trash Removal

Roof Type Asphalt Shingle

Building

Story 2

Sewer Public

Architectural Style Apartment Building

Construction Status Existing

Schools

Elementary Schools Morristown Elementary School

Middle Schools Lamoille Middle School

High Schools Lamoille Uhsd #18

School District Morristown School District

PrimeMLS

Nearby Locations

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Kathryn Zambon

Kathryn Zambon

Agent License ID: 082.0134603

+1(802) 417-2311

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24-26 Jersey WAY