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5501 Foote St NE 6 Unit Apartment Building $1,150,000 ($191,667/Unit) 9.28% Cap Rate Washington, DC 20019
Executive Summary
This stabilized 6-unit multi-family asset at 5501 Foote St NE offers a premier investment opportunity in the high-growth Deanwood corridor, currently operating at 66% occupancy with average rents of $1,725 and a consistent 12% year-over-year rental growth. The property features a resilient mix of market-rate and voucher-assisted units, providing immediate cash flow while offering the flexibility to either lease up the remaining vacant units as-is or renovate them to further maximize market rents. With a clear path to an estimated 8% Cap Rate upon full stabilization, this building is perfectly positioned to capture significant upside in one of DC’s most rapidly appreciating submarkets.
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- Offering Memorandum
Property Facts
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 9.28% | Building Size | 5,322 SF |
| Gross Rent Multiplier | 9.8 | Average Occupancy | 66% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | ||
| Zoning | R-2 - Intended to provide for areas predominantly developed with semi-detached houses on moderately sized lots that also contain some detached dwellings. | ||
| Price | $1,150,000 |
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 9.28% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,322 SF |
| Average Occupancy | 66% |
| No. Stories | 3 |
| Year Built | 1960 |
| Zoning | R-2 - Intended to provide for areas predominantly developed with semi-detached houses on moderately sized lots that also contain some detached dwellings. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,725 | 590 |
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Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5225-0020 | Improvements Assessment | $326,160 |
| Land Assessment | $104,290 | Total Assessment | $430,450 |
Property Taxes
Parcel Number
5225-0020
Land Assessment
$104,290
Improvements Assessment
$326,160
Total Assessment
$430,450
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5501 Foote St NE