TOPA COMPLIANCE COMPLETED: The building's tenants and DHCD have already been notified of the Seller's intent to sell the property via the issuance of TOPA notices, and TOPA has been cleared. The completion of the TOPA process provides a significant benefit to a buyer by eliminating the typically long and uncertain closing timelines, as well as additional buyer costs. THE OPPORTUNITY: The two-story building with partial basement contains four (4) total units, comprised of two 2-Bedroom/1-Bathroom units and two 1-Bedroom plus Den /1-Bathroom units with approximately 3,600 square feet of gross living area. The Property has historically generated strong rental demand ($2,300/unit) and full occupancy from young professionals, graduate students and others connected with nearby Georgetown and George Washington Universities, multiple hospitals, as well as northern Virginia. The Property is also situated upon a 6,066 square foot RA-1 zoned lot, which presents the opportunity whether now or in the future to more than double the gross square footage of the building, as well as add units. RENT CONTROL EXEMPT: The building is currently exempt from rent control, and for buyers who do not own more than four units in Washington, DC, this property would remain exempt. As compared to other DC multifamily opportunities, this creates additional and immediate flexibility for rental increases, and other value-add initiatives that aim to boost income.

Listing courtesy of Horvath & Tremblay MD, LLC



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.