2016 1ST Street NW

Description

2016 1st Street NW, DC 20001, in the Le Droit Park subdivision is a newly renovated buildingsituated on a .04-acre lot, amassing three levels.Zoned RF-1, this historically zoned building includes 2,859 square feet of rentable space with three separately metered three units, comprised of a one-bedroom unit, a one-bedroom unit with a den and a two bedroom unit. Each of the units have energy efficient HVAC systems, new high efficiency washer and dryers, waterless tank water heaters, new luxury laminate flooring, stainless steel appliances, and granite counter tops, The building has also received a complete renovation in 2023 with a new roof, new electrical wiring, and new plumbing. The units all have front and rear alley access including patio deck spaces on the second and third floors. There are two parking spaces with access from the alley in the rear of the building.2016 1st Street NW is being sold vacant and TOPA free. An investor can achieve a stabilized NOI of approximately $84,081 upon stabilization. This building offers a unique opportunity for a homeowner that wants to reside in one unit and lease out the two remaining units or an investor seeking cash-flow in this low-vacancy submarket.2016 1st Street NW is located six blocks from the Shaw metro station, and it is centrally located between Howard University, two hospitals and walking distance to the central business district. LeDroit Park if one of Washington DCs most affluent neighborhoods. The average median household income is $131,694 as of 2024, which is 175% of the national average. In addition, 41% of habitants hold a Masters Degree or higher certification and 59% of the residents are between the ages of 25 and 44.Known for its Victorian Architecture, LeDroit Park has a profound history tied to Howard University, which borders the neighborhood. LeDroit Park has a consistenttenant base and is one of the highest demand rental markets in the city.