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.
Location
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 6th June, 2023 11:53 AM (UTC)
