3205 NE 7th St Ne, Washington, DC 20017

Property Description

Unique opportunity to own 4 condos that were purchased together to become this incredible 6,744 sq ft multi-family building blocks to Catholic University in Brookland! Built in 2016 the building includes 4 surface parking spaces and 4 storage rooms. Each unit has its own balcony. Excellent location: 4 block walk to Brookland-CUA Metro. 2 blocks to shopping, retail & restaurants on Monroe St. Units 1 & 2: 1,580 sq ft on three levels. 3 bedrooms, 3 full baths. Large and bright living rooms with space for dining table. Kitchens with stainless appliances, granite countertops, huge kitchen island. Hardwood floors throughout. Generous sized bedrooms and beautiful baths. Details: Unit 1, currently rented to 3 adult tenants for $3,712 per month. Lease ends July 31st. Unit 2, the 3 rooms are individually rented to 3 student tenants for $1,400/month, total $4,200/month. Lease ends Nov 30th. Units 3 & 4: 1,438 sq ft on 2 levels. 2 bedrooms, den, 2.5 baths. Large and bright living rooms with space for dining table. Kitchens with stainless appliances, granite countertops, huge kitchen island. Hardwood floors throughout. Generous sized bedrooms and beautiful baths. Details: Unit 3, currently rented to 5 student tenants for $4,250 per month. Lease ends July 31st. Unit 4, currently rented to 6 student tenants for $42,50 per month. Lease ends May 31st. Financials for 2021 Income, $189,740 Expenses, $58,093 Cap rate, 4.4% Please note rental prices dropped during Covid. Previous rents received were up to $5,000 for Units 1 & 2 and $4,500 for Units 3 & 4. Reasonable estimate for future rentals could be $4,500 per unit. At that rate: Potential Income, $216,000 Potential Expenses, $58,093 Potential Cap rate, 5.3%