3,220 SqFt
3,220 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,220 sqft
Price per Sqft $170
MLS Listing ID DCDC2225340
Style Other
Abv Grd Liv Area 3,220
Year Built 1937
Annual Tax Amount $5,534
Tax Year 2025
Lot Size 3,407 Sqft
Acres 0.08
Property Sub-Type Other
Source BRIGHT
Property Description
A prime investment located directly off the rapidly developing Pennsylvania Avenue Corridor, just minutes from the U.S. Capitol. The 4-unit building features 2 vacant and 2 occupied spacious units, offering both immediate cash flow and long-term value-add potential in a high-demand submarket.
PRIME LOCATION & CONNECTIVITY
The property sits directly off Pennsylvania Avenue SE, with seamless access to I-295 (10 minutes) and I-495 (15 minutes). It is just two miles from the Naylor Road Metro Station (Green Line), providing direct connections to Downtown D.C., Union Station, and Reagan National Airport. In addition, Randle Highlands Elementary School is only a 4-minute walk from the property, further enhancing the appeal for families and long-term renters.
VALUE-ADD UPSIDE
The property is currently 50% vacant, creating a near-term leasing opportunity. Existing rents average $1,150, while new leases can be signed at 30% higher rates. Additionally, the units' layouts are well-suited for bedroom conversions. With modest upgrades, one- and two-bedroom units can be repositioned into two- and three-bedroom units, achieving market rents of approximately $1,836 and $2,810, respectively.
THRIVING SUBMARKET
The neighborhood is undergoing sustained revitalization. Major projects such as Skyland Town Center and The Shops at Penn Branch have delivered 600 new multifamily units, 100,000+ SF of retail, and the first full-service gym east of the Anacostia River. These amenities continue to attract residents and strengthen long-term rental demand.
EQUITY BUILDING AT A DISCOUNT
With multiple loan products available, buyers can build equity more efficiently than renting locally. For example, FHA financing up to 96.5% allows minimized cash-to-close and reduced monthly debt service, with principal and interest payments offset by rental income.
Location
State DC
County Washington
Interior
Hot Water None
Heating None
Cooling None
Fireplace N
Heat Source None
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Other
Water Other
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 5584//0112
Ownership Fee Simple
SqFt Source 3220
Special Listing Condition Standard
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REALTOR® | Lic# RS325652