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$2,700,000

  • Sold
  • Closed
  • Multi-Family
  • 10 Units
  • 0.5 Acres
See This Home
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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.

Full Property Details for 31 Hyde St

General

  • Sold For: $2,700,000
  • Taxes: $42,575 (2023)
  • Status: Closed
  • Type: Multi-Family
  • Source: PrimeMLS
  • MLS ID: 4976648
  • Added to Site: 883 day(s) ago

Parking

  • Parking: Parking Spaces 1 - 10

Location

  • County: Chittenden
  • Driving Directions: From Pearl St take N Willard St, then turn left onto North St, then right onto Hyde St, property is on the left just after Y in road.

School Information

  • School District: Burlington School District

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard, Direct Vent, Electric, Gas Heater
  • Heating Fuel: Electric, Gas - Natural
  • Water Heater: Electric, Gas - Natural, Owned, Tank

Utilities

  • Sewer: Public
  • Water: Public
  • Separate Meters: Varies

Structural Information

  • Construction Status: Existing
  • Construction: Wood Frame
  • Exterior Const.: Vinyl Siding, Wood Siding
  • Basement: Yes
  • Basement Entrance: Interior
  • Basement Desc.: Dirt Floor, Partial, Slab, Unfinished
  • Roof: Shingle, Slate
  • Stories/Levels: 2
  • Finished Total: 10,852 Sq. Ft.
  • Finished Above Grnd: 10,852 Sq. Ft.
  • Year Built: 1985

Unit Information

  • 3 Bedroom Units: 10

Lot Features

  • Lot Size (Acres): 0.5
  • Lot Size (Sq. Ft.): 21,780
  • Frontage: Yes Road Frontage
  • Frontage Feet: 96
  • Street/Road Desc.: Public
  • Driveway/Sidewalk: Gravel
  • Zoning: Res- Med Den
  • Lot Description: City Lot, Condo Development, Level, Sidewalks

Financial Considerations

  • Price Per Sq. Ft.: $303.63
  • Tax Amount: $42,575
  • Tax Year: 2023

Disclosures and Reports

  • APN: 114-035-15701 - 15709

Listed by Coldwell Banker Carlson Real Estate, Smith Macdonald Group
Sold by KW Vermont, Wen K. Dong

Listed by Coldwell Banker Carlson Real Estate, Smith Macdonald Group
Sold by KW Vermont, Wen K. Dong

Listing agent

— 31 Hyde St —

  • Smith Macdonald Group

    Coldwell Banker Carlson Real Estate

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Price & Sales History for 31 Hyde St

Date
Details
Price
Change
Source
3/15/2024
Sold
$2,700,000
-18.06%
MLS
12/15/2023
Price Reduced
$3,295,000
-5.72%
MLS
11/03/2023
Listed
$3,495,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Coldwell Banker Carlson Real Estate, Smith Macdonald Group
Sold by KW Vermont, Wen K. Dong

31 Hyde Street, Burlington, VT 05401 (MLS# 4976648) is a Multi-Family property that was sold at $2,700,000 on March 15, 2024. Want to learn more about 31 Hyde Street? Do you have questions about finding other Multi-Family real estate for sale in Burlington? You can browse all Burlington real estate or contact a Coldwell Banker agent to request more information.