An Exceptional Investment Opportunity! This property consists of ten total units, eight 3-bedroom, 1.5-bath condos built in 1985 and a two-story attached duplex constructed in 1930, all within the Opportunity Zone. The interiors of all units have recently received fresh paint, and many boast upgraded flooring. Exterior enhancements include compliance with zoning regulations, such as new sidewalks and curbing, illuminated by energy-efficient LED lighting. The driveway has been leveled for added convenience, and a protective fence now shields the previous surface while enhancing curb appeal. This investment is already above a 7% cap rate, with substantial net operating income (NOI) and 100% occupancy over many years. With minimal investment and strategic rental turnover, there's significant potential to increase the NOI. This can substantially elevate the property's overall valuation. Moreover, an exceptional management company is in place to expertly navigate the property's operations, drive revenue, and ensure a hassle-free investment experience. Take advantage of this outstanding opportunity for a high-yield, value-increasing investment.
Closed
Listed by:
Smith Macdonald Group,
Coldwell Banker Carlson Real Estate 802-253-7358
$2,700,000
31 Hyde Street, Burlington, VT 05401
--beds
--baths
10,852sqft
Multi Family
Built in 1985
-- sqft lot
$990,300 Zestimate®
$249/sqft
$2,031 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: April 01, 2024 at 02:00pm
Listed by:
Smith Macdonald Group,
Coldwell Banker Carlson Real Estate 802-253-7358
Bought with:
Wen Dong
KW Vermont
Source: PrimeMLS,MLS#: 4976648

Facts & features
Interior
Heating
- Baseboard, Direct Vent, Electric, Gas Heater
Cooling
- None
Features
- Basement: Dirt Floor,Partial,Slab,Unfinished,Interior Entry
Interior area
- Total structure area: 11,692
- Total interior livable area: 10,852 sqft
- Finished area above ground: 10,852
Property
Parking
- Parking features: Gravel, Parking Spaces 1 - 10
Features
- Levels: Two
- Frontage length: Road frontage: 96
Lot
- Size: 0.50 Acres
- Features: City Lot, Condo Development, Level, Sidewalks
Details
- Parcel number: 11403515709
- Zoning description: Res- Med Den
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Frame, Vinyl Siding, Wood Siding
- Foundation: Concrete, Slab - Concrete
- Roof: Shingle,Slate
Condition
- New construction: No
- Year built: 1985
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Natural Gas Connected, Fiber Optic Internt Avail
Community & neighborhood
Location
- Region: Burlington