2513-15 22nd NE st
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2513-15 22nd NE st
6 Unit Apartment Building $1,300,000 ($216,667/Unit) Washington, DC 20018
Investment Highlights
- Value add opportunity
- Large unfinished basement
- Large lot (7,500 SF)
Executive Summary
Value-add opportunity in Woodridge! TOPA has been cleared, ready to close. Seller may be able to assist with vacating the building. 2513 22nd St NE (4 units) and 2515 22nd St NE (2 units) are both being sold for a total price of $1,300,000.
All 6 units across both buildings are configured as one bedroom / one bath apartments but it is possible to add bedrooms in all units. The buildings have large unfinished basements that can be converted into living space. There is currently 1 vacant unit, the other 5 are occupied. In-place rents range between $750/month and $1,384/month. DCHA's rent reasonableness rent estimator tool has 2 bedrooms in the neighborhood at $2,200/month and 3 bedrooms at $3,295/month. Pro forma annual rents on the high end are $237,240!
Units are in good condition but dated. Electric and gas are separately metered. The lot is large and deep, measuring 7,500 SF. Zoning for both parcels is R-1B. Contact us today with any questions!
All 6 units across both buildings are configured as one bedroom / one bath apartments but it is possible to add bedrooms in all units. The buildings have large unfinished basements that can be converted into living space. There is currently 1 vacant unit, the other 5 are occupied. In-place rents range between $750/month and $1,384/month. DCHA's rent reasonableness rent estimator tool has 2 bedrooms in the neighborhood at $2,200/month and 3 bedrooms at $3,295/month. Pro forma annual rents on the high end are $237,240!
Units are in good condition but dated. Electric and gas are separately metered. The lot is large and deep, measuring 7,500 SF. Zoning for both parcels is R-1B. Contact us today with any questions!
Property Facts
| Price | $1,300,000 | Apartment Style | Low Rise |
| Price Per Unit | $216,667 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 5,800 SF |
| No. Units | 6 | Average Occupancy | 83% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1941 |
| Price | $1,300,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.17 AC |
| Building Size | 5,800 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 1941 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
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zoning
| Zoning Code | R-1B |
| R-1B |
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2513-15 22nd NE st
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