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277 Summer Street

St. Johnsbury VT 05819

9
5
6176 sq. ft.
8712 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

This stately Victorian offers a compelling opportunity for investors or developers looking to complete and capitalize on a thoughtfully reconfigured multi-family project. Rich with original craftsmanship, the home still showcases the hallmarks of its era: tall ceilings, detailed woodwork, built-ins, and an overall sense of scale and presence that newer construction rarely replicates. A wraparound front porch further enhances its architectural appeal and curb presence. Formerly configured as four units, the property has since been approved and partially converted into a six-unit apartment building. The proposed layout includes a three-bedroom unit, a two-bedroom unit, and four one-bedroom units, creating a balanced mix well suited to the local rental market. Once completed, the projected gross monthly income is estimated between $7,500 and $8,000, making this an attractive option for those seeking long-term passive income. Significant structural improvements have already been completed, and the interior has been taken back to the studs, providing a clean slate for the next phase of work. Updated mechanicals are underway, including a high-efficiency propane heating and hot water system designed to serve the building efficiently. Electrical infrastructure is in place to support individual metering for each unit, along with a common meter. Situated on a corner lot, the property benefits from more parking than typically expected for a building of this vintage. With the heavy lifting already done, what remains is finishing the mechanicals, closing the building back up, and bringing the units online. For the right buyer, this is a rare chance to complete a classic Victorian conversion and turn it into a strong-performing income property.

Features

9 bedrooms
5 bathrooms
6176 sq. ft. floor area
8712 sq. ft. lot size
Multi-Family

Property history for 277 Summer Street

2023
Sold
$170,000
31 Jan 2023 by Scott DesJardins, of StoneCrest Properties, LLC

Happy sellers in St. Johnsbury

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Local market activity for 9 bedroom multi families in St. Johnsbury

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