31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
31 Hyde Street
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$2,700,000

31 Hyde Street

10,852 Sq.Ft.

Description

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.

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Location

31 Hyde Street, Burlington, VT 05401

Status

Sold
Smith Macdonald Group

Smith Macdonald Group

TITLE

Brokers/Owners

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Property Amenities

Area & Lot
Lot Area 0.5 Acres
Living area 10,852 Sq.Ft.
MLS® ID 4976648
Year Built 1985
School District Burlington School District
Type Multi-Family
Status Sold
Exterior
Air conditioning None
Heat type Baseboard, Direct Vent, Electric, Gas Heater, Electric, Gas - Natural
Sewer Public
Parking Parking Spaces 1 - 10
Roof Shingle, Slate
Finance
Sales Price $2,700,000
Real Estate Tax $42,575 yearly

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