Off-Market Property at 589 Columbia RD Nw, Washington, DC, 20001
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589 Columbia RD Nw, Washington, DC, 20001

$1,400,000

Description

Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $185 per day, based on similar listings in the area. Estimated short-term cap rate of -8.0%. Investment Opportunity in Prime Location Welcome to a prime investment opportunity nestled in the heart of Washington, DC. This four-unit property presents an exceptional chance for savvy investors to capitalize on its potential. Boasting a coveted location and promising possibilities, this property is a diamond in the rough waiting to be polished. Property Details: Unit Configuration: Four units, each featuring two bedrooms Potential for Expansion: Ample space available to comfortably rebuild units into three bedrooms, offering increased rental potential and appeal. Certificate of Occupancy: The property holds a Certificate of Occupancy for a four-unit building, ensuring compliance and legal status. Neighborhood Dynamics: The neighboring building has secured a permit for an eight-unit apartment complex, indicating growth and development potential in the area. Housing Demand: With housing in DC at a premium and Howard University facing shortages in student accommodations, this property offers a timely solution to a pressing need. Opportunities Abound: This property presents a myriad of opportunities for creative redevelopment or renovation, catering to diverse investment strategies and goals. Important Note: Fire Damage Alert: Please be advised that this property has incurred fire damage and is currently deemed unsafe for entry. Exercise caution when exploring the premises. Home Harmless Agreement: For safety reasons, all individuals entering the property must sign a Home Harmless Agreement, acknowledging the risks associated with the property's current condition.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$0
Rental Policy
daily
Yearly Taxes
$68411
Bedrooms
2
Bathrooms
2
SQFT
7,132
Furnished
unknown
Year built
1980
Listing Status
Off Market
MLS
DCDC2133436

Short-term Rental Potential
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$45,492

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$196

Price/SQFT