525 7th St NE,WASHINGTON, DC 20002
WASHINGTON, DC 20002
Description
Rare value-add opportunity to purchase 9 unit building with rent upside in Capitol Hill. The building has 2 vacancies and the most recent lease signed was at $3,100/month (HCVP) for a renovated 2 bedroom/1 bath. Rents for legacy tenants are lower. Pro forma NOI is almost $175,000, a 7.8% cap at the list price. The building has comparably large units for the area. Out of 9 units, 5 have already been converted to 2 bedroom/ 1 bath. The rest of the units are 1 bedrooms and there is an opportunity to convert them to 2s on turns. Utilities are sub metered. All units feature central heat and 5 also have central cooling (the others have window A/C). There are 4 parking spaces in the rear. The property is in historic Capitol Hill. Walk score is 83. Nearby amenities include Whole Foods (0.3 mi), Union Station (0.7 mi), Trader Joe's (0.9 mi), and Stanton Park (0.3 mi).
Details
| MLS # | DCDC2266894 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1954 |
| Days On Site | 85 |
| Listing Provided By | Keller Williams Capital Properties | Stefan Rosu |
Features
| Units | 9 |
|---|---|
| Zoning | RF-1 |
| Acreage | 0.05 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Forced Air |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 12543 |
|---|
Area Information
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in 20002) | |
Price: $2,250,000 low | high Med: $449,938 On site: 85 low | high Med: 192 | |
Market Activity 20002
Request a showing
Request a showing
Contact
Learn More About This Property
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in 20002) | |
Price: $2,250,000 low | high Med: $449,938 On site: 85 low | high Med: 192 | |
CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Listing information is deemed reliable but is not guaranteed accurate.
