Multifamily Investment Opportunity
Acquisition Price:
$5,700,000
10 Unit Apartment Building - 5 Bedrooms/per unit
Great opportunity to add a REAL GEM to your portfolio! This investment property is a 10 unit apartment building located on DC's Northwest side. All brick building with street parking. The building will be delivered vacant. The pictures are attached to the link below along with proforma reports and DC voucher rent breakdowns. The current breakdown of the units are 5 bedrooms per unit 10 total units. There is awesome potential for a value add with architectural plans for redevelopment, adding an additional story on the building which can result in 10 new units to make it a 20 unit building. The expected rehab cost is 50-60k per unit.
Gross Rental Income per month- $57,570
Gross Rental Income per year- $690,840
PHOTOS:
Proposed Architectural Plans for Redvelopment:
"We make your real estate investing process so easy"
PROMISE LAND REALTY, LLC
Work: 313-307-6616
sarter@promiselandrealtyllc.com