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- LoopNet Team
1503 Q St NW
Washington, DC 20009
Multifamily Property For Sale
·
4 Units
INVESTMENT HIGHLIGHTS
- Exceptional location one of Washington's most established residential neighborhoods
- Two renovated units, perfect opportunity for an owner-occupant
- Walking distance to Dupont Circle and Logan Circle/14th Street
- 4-unit properties are exempt from Rent Control
PROPERTY FACTS
| No. Units | 4 | Lot Size | 0.02 AC |
| Property Type | Multifamily | Building Size | 2,784 SF |
| Property Subtype | Apartment | Average Occupancy | 75% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | C | Year Built | 1870 |
| Zoning | RA-8 | ||
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 2,784 SF |
| Average Occupancy | 75% |
| No. Stories | 4 |
| Year Built | 1870 |
| Zoning | RA-8 |
ABOUT 1503 Q ST NW , WASHINGTON, DC 20009
Rent Control Exempt: Apartment buildings less than five units are exempt from rent control by D.C. law and thus allow ownership to achieve market rents without limitation. Immediate Ability to Raise Rents: Current ownership has self-imposed affordability covenants which have capped the monthly rent at the Property to $1,950 per unit. These affordability covenants will not carry over to new ownership which allows the ability to raise rents to market upon acquisition contingent on in-place leases. Exceptional Location: Located between Logan Circle and Dupont Circle the Property is at the heart of the action surrounded by an abundance of restaurants and bars. The Whole Foods Market on P Street is only a three-minute walk from the Property. Easy Access to Transit: 1503 Q Street NW is less than half a mile away from the Dupont Circle Metro Station which provides transportation along the Red Line. The Property is also easily accessible to many major bus lines, including the S1, S2, S4, 52, and 54. Value-Add Opportunity: With two units recently renovated new ownership has the ability to renovate the remaining two units and capture significantly higher rents.
PROPERTY TAXES
| Parcel Number | 0193-0090 | Improvements Assessment | $1,113,870 |
| Land Assessment | $553,050 | Total Assessment | $1,666,920 |
PROPERTY TAXES
