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1148 Owen Pl NE 4 Unit Apartment Building $1,100,000 ($275,000/Unit) Washington, DC 20002
Executive Summary
INVESTOR/DEVELOPER OPPORTUNITY! Rare 4-unit multifamily property with condo conversion nearly completed and exceptional upside potential. Each unit offers a spacious 3BR/2BA layout. Property has been fully gutted and is ready for completion by the next owner. Major improvements already completed or nearly completed include framing, electrical, plumbing, and mechanical work, with HVAC/AC units already purchased. Estimated remaining construction costs to complete interior finishes are approximately $450K. Excellent opportunity to create four condominium units or a strong cash-flowing multifamily investment. Ideal for investors, builders, or developers seeking value-add potential and strong future resale or rental income. Property sold strictly AS-IS. Buyer to perform their own due diligence regarding permits, condo conversion status, approvals, and projected values.
Property Facts
| Price | $1,100,000 | Property Subtype | Apartment |
| Price Per Unit | $275,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Sale Condition | Redevelopment Project | Building Size | 4,200 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1940 |
| Zoning | RF-1 | ||
| Price | $1,100,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,200 SF |
| No. Stories | 3 |
| Year Built | 1940 |
| Zoning | RF-1 |
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Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 4059-0832 | Improvements Assessment | $276,040 |
| Land Assessment | $473,380 | Total Assessment | $749,420 |
Property Taxes
Parcel Number
4059-0832
Land Assessment
$473,380
Improvements Assessment
$276,040
Total Assessment
$749,420
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1148 Owen Pl NE