Description
Lease option available. Great development & cash flow opportunity! Vacant (no TOPA!) 4-unit on a prime street in Trinidad.+-+-Each unit is a 2 Bedroom / 1Bath.+- Lease with option to purchase at a locked in price. Initially, the buyer only needs to pay the option fee and renovations.+- $5500/month for 8-12 years includes taxes and insurance!+-+-This building needs work throughout and is sold AS IS but was fully rented a year and a half ago.+- Current housing vouchers provide $2000/month per unit. The $8000 minimum projected gross income (Annual ROI = 20-30%). More if short term rental or if+-third level or rooftop is added (see 1230 Queen St+-directly across the street). Rents and equity have steadily climbed.+-+-This building is also a perfect condo conversion opportunity with 2/1 condo comps selling over 600k!+-Gas & Electric separately metered. Fantastic location - within walking distance to Gallaudet University, Union Market, NOMA-Galludet Metro station, bustling H Street corridor, Union Station, Whole Foods, and the National Arboretum.
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0BEDS
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0.06ACRES
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0BATHS
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01/2 BATHS
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2,584SQFT
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$455$/SQFT
Description
Lease option available. Great development & cash flow opportunity! Vacant (no TOPA!) 4-unit on a prime street in Trinidad.+-+-Each unit is a 2 Bedroom / 1Bath.+- Lease with option to purchase at a locked in price. Initially, the buyer only needs to pay the option fee and renovations.+- $5500/month for 8-12 years includes taxes and insurance!+-+-This building needs work throughout and is sold AS IS but was fully rented a year and a half ago.+- Current housing vouchers provide $2000/month per unit. The $8000 minimum projected gross income (Annual ROI = 20-30%). More if short term rental or if+-third level or rooftop is added (see 1230 Queen St+-directly across the street). Rents and equity have steadily climbed.+-+-This building is also a perfect condo conversion opportunity with 2/1 condo comps selling over 600k!+-Gas & Electric separately metered. Fantastic location - within walking distance to Gallaudet University, Union Market, NOMA-Galludet Metro station, bustling H Street corridor, Union Station, Whole Foods, and the National Arboretum.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-09T13:56:40.203.