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2928 Nelson Pl SE, Washington, DC 20019-7716 2928 Nelson Pl Se 4 Unit Apartment Building $1,150,000 ($287,500/Unit) 7.83% Cap Rate Washington, DC 20019
INVESTMENT HIGHLIGHTS
- Completely renovated and ready for the new owner
- Open concept, stainless steal appliances, solar system
- Over 550K spent in renovation
EXECUTIVE SUMMARY
Discover a prime investment opportunity in Hillcrest, DC with this fully renovated 4-unit property, currently fully occupied and generating robust income. Over $550,000 has been invested in renovating this turnkey gem, which boasts sleek laminate floors, elegant granite countertops, stainless steel appliances, and convenient washer and dryer hookups in every unit. Additionally, it features a paid-off solar system valued at over $56,000 and will convey for the right offer. The property includes two 2-bedroom units and two 3-bedroom units, delivering a current monthly rental income of $7,703 and an additional $8,000+ annually from owned solar panels. Located just across the river from Capitol Hill, residents enjoy vibrant city life combined with a tranquil retreat. Proximity to public transportation further enhances its appeal. Tenants cover all utility costs. Additionally, if desired, one unit can be vacated for owner occupancy. Seize the chance to add this high-performing, income-generating property to your investment portfolio, offering both immediate returns and long-term appreciation. Tenant is responsible for all utilities. Separate meters!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$92,436
|
$33.98
|
| Other Income |
$8,000
|
$2.94
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$100,436
|
$36.93
|
| Taxes |
$5,309
|
$1.95
|
| Operating Expenses |
$5,000
|
$1.84
|
| Total Expenses |
$10,309
|
$3.79
|
| Net Operating Income |
$90,127
|
$33.13
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $92,436 |
| Annual Per SF | $33.98 |
| Other Income | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $2.94 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $100,436 |
| Annual Per SF | $36.93 |
| Taxes | |
|---|---|
| Annual | $5,309 |
| Annual Per SF | $1.95 |
| Operating Expenses | |
|---|---|
| Annual | $5,000 |
| Annual Per SF | $1.84 |
| Total Expenses | |
|---|---|
| Annual | $10,309 |
| Annual Per SF | $3.79 |
| Net Operating Income | |
|---|---|
| Annual | $90,127 |
| Annual Per SF | $33.13 |
PROPERTY FACTS
| Price | $1,150,000 | Apartment Style | Garden |
| Price Per Unit | $287,500 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 2,720 SF |
| Cap Rate | 7.83% | Average Occupancy | 100% |
| Sale Condition | Build to Suit | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1940/2022 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RA-1 - allows for a mix of low- to moderate-density residential development, including detached houses, row houses, and low-rise apartments. | ||
| Price | $1,150,000 |
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 7.83% |
| Sale Condition | Build to Suit |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.09 AC |
| Building Size | 2,720 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1940/2022 |
| Opportunity Zone |
Yes |
| Zoning | RA-1 - allows for a mix of low- to moderate-density residential development, including detached houses, row houses, and low-rise apartments. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 3+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 5505-0023 | Total Assessment | $633,400 (2025) |
| Land Assessment | $197,750 (2025) | Annual Taxes | $5,309 ($1.95/SF) |
| Improvements Assessment | $435,650 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5505-0023
Land Assessment
$197,750 (2025)
Improvements Assessment
$435,650 (2025)
Total Assessment
$633,400 (2025)
Annual Taxes
$5,309 ($1.95/SF)
Tax Year
2023
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2928 Nelson Pl SE, Washington, DC 20019-7716 | 2928 Nelson Pl Se
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