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Listed by Kate Barry • EXP Realty • Phone: 603-547-0852
$ 475,000
Est. payment | /mo
4,116 SqFt
$ 475,000
Est. payment | /mo
4,116 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,116 sqft
Price per Sqft $115
MLS Listing ID 5086282
Construction Status Existing
Year Built 1860
Annual Tax Amount $11,956
Tax Year 2024
Lot Size 0.400 Acres
Acres 0.4
Property Description
This is a rare opportunity to take over a multi-family redevelopment project in the heart of Brattleboro. Situated on a 0.40-acre site, the property features a vacant three-story building that has already been gutted and fully remediated for lead paint. With municipal zoning approvals already in place to expand from 8 to 13 units and full architectural plans included with the sale, the time-consuming planning and permitting phase is behind you. Upon completion, the complex will offer roughly 11,183 square feet of high-demand housing in a neighborhood characterized by strong rental demand and near-zero vacancy. The financial incentives lined up for this project provide substantial non-dilutive equity. The purchase includes access to $317,500 in VHIP funds ($130,000 for the 8 original units and $187,500 for the 5 expansion units), a $125,000 Downtown State Tax Credit that can be utilized directly or sold to a lender at 90% face value, and an estimated $60,000 in weatherization incentives. A recent appraisal strongly supports a robust finished valuation, offering a clear path to equity. The project is also well-suited for a phased renovation approach, allowing units to be completed and leased in stages to generate immediate cash flow during construction. The seller is motivated and open to creative financing options for qualified buyers. This is a unique chance to transform a prime downtown parcel into a vibrant, high-yield community asset with enthusiastic neighborhood backing. Complete project documentation, including architectural plans as well as as-is and as-completed appraisals, is available in a shared data room. Proof of funds or a commercial pre-approval is required prior to scheduling a showing or receiving the full diligence file.
Location
State VT
County Vt-windham
Area Vt-Windham
Zoning RM / M
Rooms
Basement Entrance Walk-up
Basement Dirt Floor, Full
Interior
Cooling None
Exterior
Utilities Available None
Roof Type Corrugated,Metal,Slate
Building
Story 3
Sewer Public
Architectural Style Multi-Family
Construction Status Existing
