33 Oak Street

Description

This is a rare opportunity to take over a multi-family project in the heart of Brattleboro. The 0.40-acre site features a vacant three-story building that has already been gutted and fully remediated for lead paint. With town zoning already approved to expand from 8 to 13 units and full architect plans included, the heavy lifting and permitting phase is already behind you. Upon completion, the complex will offer roughly 11,183 square feet of high-demand housing. The financial incentives currently lined up for this project are significant. The sale includes access to VHIP funds : 8 original units $130,000 and the 5 new units $187,500. Additionally, there is a $125,000 Downtown State Tax Credit that can be used directly or sold to a bank at 90% face value, plus an estimated $60,000 in weatherization incentives. A recent appraisal supports a strong finished value, offering a clear path to equity for an investor. Located in a neighborhood with high rental demand and a low vacancy rate, this property is in an ideal location and could also be renovated one stage at a time so that units could go live and start generating cash flow. A lot of leg work has already been done, and the entire community wants to see this building come alive again with residents. This part of Brattleboro is thriving and this is truly the opportunity to take the worst house in the best neighborhood and turn it into affordable housing that generates a positive return. All project documents, including architect plans and both as-is and as-complete appraisals, are available in a shared Drive file. Please note that proof of funds or a commercial pre-approval is required before scheduling a showing or receiving the full data room.