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Key Details
Sold Price $685,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,500 sqft
Price per Sqft $195
MLS Listing ID DCDC2108058
Sold Date 09/18/23
Style Colonial
Abv Grd Liv Area 3,500
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $5,148
Tax Year 2022
Lot Size 4,128 Sqft
Acres 0.09
Property Description
Situated in the historically esteemed Hillcrest district, discover a Colonial-style quadruplex built in 1940 that stands as a prime investment opportunity for savvy investors and/or first-time homebuyers. Spanning 3,500 sqft, the property consists of three units, each with 2 bedrooms and 1 bath, and a fourth unit featuring 1 bedroom and 1 bath with an optional second room that could be finished. Being sold as-is, this enduring brick construction needs some work but embodies a unique investment allure, offering immediate cash flow potential through the live-rent model. Investors and homeowners alike can live in one unit and let the others drive substantial rental income, potentially offsetting or erasing the mortgage. Perfectly compatible with FHA financing, with the possibility of minimal to zero down payment, this property also holds promise for those looking for move-in and rent-ready prospects. Its strategic layout, prime location near major commuter pathways, Anacostia Waterfront, vibrant Capitol Hill, and its DC-declared opportunity zone status further accentuate its growth potential. Vacant and free from TOPA rights complications, it's a turn-key proposition waiting for the right vision and investor's eye, promising a tangible ROI and future appreciation with neighboring 2-bedroom units commanding rents over $1600. This quadruplex jewel in Hillcrest is an enticing proposition, ready to be transformed by the right investor and/or first-time homeowner.
Location
State DC
County Washington
Interior
Hot Water Natural Gas, Electric
Heating Hot Water
Cooling Central A/C
Heat Source Electric, Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 5505/S/0003
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing FHA, Conventional, Cash
Listing Terms FHA, Conventional, Cash
Financing FHA,Conventional,Cash
Special Listing Condition Standard
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Bought with Carlos Credle • Samson Properties