PRIME INVESTMENT OPPORTUNITY -Discover a meticulously positioned four-unit multifamily building nestled in the vibrant Georgia Petworth community, brimming with retail and dining options within arm's reach. AMIDST TRANSFORMATIVE REDEVELOPMENT - Embrace a locale on the cusp of transformation, with major new developments including The Parks at Walter Reed, a sprawling… Read More 66-acre Town Center promising over 3.1 million square feet of development. Existing enhancements like Walmart, a stone's throw away, are already bolstering local economy and real estate values. THRIVING WALKABLE COMMUNITY - Enjoy a stellar Walk Score of 87, denoting a ''Very Walkable'' neighborhood where daily errands are easily accomplished sans a car. With a mix of big-box retailers, neighborhood shops, and a vibrant dining scene along Georgia Avenue and Kennedy Street, the property is a magnet for residents seeking urban convenience. UNLOCK HIDDEN POTENTIAL - Maximize your investment with each unit featuring an enclosed porch, presenting untapped square footage ripe for expansion. By adding extra bedrooms to enhance appeal, you can potentially boost rental income per unit to exceed $3,000, ensuring a robust return on investment. RENT CONTROL EXEMPTION - Escape the constraints of D.C.'s rent control laws, as this asset, comprising fewer than five units, enjoys exemption. With the freedom to adjust rents in tandem with market rates, capitalize on flexibility and profitability for your investment. EQUITY BUILDING AT A DISCOUNT - Seize the opportunity to leverage a variety of tailored loan products ideal for first-time buyers. Occupy one of the vacant units while renting out the remaining three, translating to significantly reduced monthly mortgage payments compared to prevailing market rents for similar units, facilitating accelerated equity growth. Read Less
Courtesy of Ari Firoozabadi, Greysteel Company LLC [email protected]
Listing Snapshot
Days Online
87
Last Updated
Property Type
Townhouse
Square Ft.
3,296
Lot Size
0.03 Acres
Year Built
1932
MLS Number
DCDC2147704
30 Days Snapshot Of 20011
$
+8%
(avg) sold price
30
-34%
homes sold
38
-42%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
3,296 sqft living area, Built in 1932, Structure Type: Interior Row/Townhouse, 4 units in building, Bungalow, Brick, Masonry
Cooling
Electric, None
Foundation
Stone
Heating
Natural Gas, Hot Water
Lot
1,440 sqft, 0.03 acres
Property
Other Structures: Above Grade, Below Grade, Other Units: Unit 1, Unit 2, Unit 4, Unit 3, Soil Types: Unknown, 2 one-bedroom units, 2 two-bedroom units
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
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