3867 Alabama Ave SE | Washington, DC 20020
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- LoopNet Team
3867 Alabama Ave SE
Washington, DC 20020
31 Unit Apartment - 27 Vacancies - Value Add · Multifamily Property For Sale
·
31 Units
INVESTMENT HIGHLIGHTS
- A 30,827 SF building (including 5,000 SF of lower-level space) featuring 31 units, including 28 one-bedroom apartments and 3 two-bedroom apts
- The 5,000 SF lower level, with 8-foot ceilings, existing plumbing, and egress, can be renovated into four additional rental units
- Recent upgrades in multiple units include new appliances, hardwood flooring, updated kitchen cabinets, tile and windows providing move-in ready apts
- Currently centrally metered for electricity and gas, offering an opportunity to convert to individual unit metering to significantly boost net income
- Achieve a projected 8.34% CAP rate through a Housing Provider Voucher (HPV) leasing strategy
- Electrical, plumbing, and roofing systems have all been updated within the past 10 years, eliminating the need for major upfront repairs
PROPERTY FACTS
| No. Units | 31 | Lot Size | 0.43 AC |
| Property Type | Multifamily | Building Size | 30,827 SF |
| Property Subtype | Apartment | Average Occupancy | 74% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | C | Year Built | 1939 |
| Zoning | RA-1 | ||
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 30,827 SF |
| Average Occupancy | 74% |
| No. Stories | 3 |
| Year Built | 1939 |
| Zoning | RA-1 |
AMENITIES
UNIT AMENITIES
- Disposal
- Oven
- Range
- Carpet
- Recreation Room
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 28 | - | 575 - 650 |
| 2+1 | 3 | - | 850 |
PROPERTY TAXES
| Parcel Number | 5522-0800 | Improvements Assessment | $987,370 |
| Land Assessment | $749,360 | Total Assessment | $1,736,730 |
PROPERTY TAXES
Parcel Number
5522-0800
Land Assessment
$749,360
Improvements Assessment
$987,370
Total Assessment
$1,736,730
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