$1,500,000
$1,400,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
3,250 SqFt
SOLD DATE : 06/02/2023
Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 3,250 sqft
Price per Sqft $461
Subdivision Old City #1
MLS Listing ID DCDC2090976
Sold Date 06/02/23
Style Traditional
Abv Grd Liv Area 3,250
Originating Board BRIGHT
Year Built 1914
Annual Tax Amount $10,113
Tax Year 2022
Lot Size 1,973 Sqft
Acres 0.05
Property Description
Four-unit Property located on Capitol Hill just two blocks away from the bars, shops, and restaurants on the H Street Corridor. Located in an area of rampant redevelopment, new ownership will reap the benefits of future and existing developments immediately located in this area. This Property boasts spacious floor plans and a favorable unit mix of three three-bedroom units and one two-bedroom unit.
TURNKEY ASSET: The Property has undergone recent renovations that will reduce future repairs and maintenance costs as well as limit the need for additional capital improvements by new ownership. The recent renovation's scope included significant interior and systems upgrades; major expenses that do not have to be budgeted upon acquisition.
NEARBY NEW DEVELOPMENTS: 1226 F Street NE is encircled by three of D.C.'s most notable neighborhood revitalization (Benning Road, RFK Stadium, and the H Street Corridor) and nearby to the long-planned Hechinger Mall redevelopment. With billions of dollars flowing into the redeveloping neighborhood, the Property is poised for significant future growth as the local infrastructure continues
to deliver.
SELF-CONTAINED UNITS: Each unit is individually-metered for electricity and has individual heating and cooling systems (HVAC). Separately metered utilities greatly limit ownership's expense exposure, as the cost is solely on the tenant (except for water/sewage).
GET PAID TO BUILD EQUITY: With as little as 5% down on a $1,800,000 loan amortized over 30 years at a 5% interest rate, new ownership can expect a monthly payment of approximately $10,021, taxes included. With in-place rents averaging $3,520 per unit, new ownership can live in one of the units while still generating $1,600 of income per month. A fantastic opportunity for anyone looking to live rent free with the benefit of additional income after mortgage payments.
Location
State DC
County Washington
Zoning RF-1
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling None
Fireplace N
Heat Source Electric
Exterior
Utilities Available Electric Available, Cable TV Available, Natural Gas Available, Sewer Available, Water Available
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Septic, Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 1006//0026
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Catherine Carlstedt • Coldwell Banker Realty - Washington
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
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