2515 22nd St Ne, WASHINGTON, DC 20018

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 (2 units) and 2515 22nd St NE (4 units) are both being sold for a total price of $1,200,000. All 6 units across both buildings are configured as one bedroom + den / 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 3 bedrooms at $3,261/month. Pro forma annual rents on the high end are almost $235,000! 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!