Four-unit Property in the well sought-after Kingman Park neighborhood on Capitol Hill in NE Washington, D.C. New ownership will reap the benefits of future developments planned for the area. This property boasts spacious floor plans and a favorable unit mix of two three-bedroom units and two two-bedroom units.
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 the purchaser. The
scope of renovation includes significant interior and systems upgrades; and roof replacement in 2021.
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).
NEARBY NEW DEVELOPMENTS: 1600 E 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 neighborhood, the Property is poised for significant future growth as the local infrastructure continues to deliver.
GET PAID TO BUILD EQUITY: With as little as 5% down on a $1,700,000 loan amortized over 30 years at a 5% interest rate, ownership can expect a monthly payment of approximately $9,536, taxes included. With in-place rents averaging $3,365 per unit, new ownership can live in one of the units while still generating $1,000 of income per month. A fantastic opportunity for anyone looking to live rent free with the benefit of additional income after mortgage payments.