|
NUMBER OF UNITS: 15
UNIT MIX: 15 2BR/1BATH (1005+/- SQFT per unit)
NET RENTABLE SF: 14, 070 SF
No. OF BUILDINGS: 1 Four(4) Story Bldgs
ROOF: Flat Rubber Roof
ACRES: 11, 653 Sqft Lot
DENSITY: 22 units per/ 0.0523 Acre
PARKING: Lot 1.5 cars per unit
YEAR BUILT: 1947
76 Forrester Street SW Washington, DC 20032
The subject is located on the south west side of the District of Columbia in Congress Heights. The hard work has been done on this 15 Unit Goldmine. All mechanicals have been roughed in and some drywall have been hung. The condo docs have been completed. Only need final touches to either enjoy cashflow as a rental apartment complex or sell off as condos.
Potential Condo Sales
Gross Cost Per Unit
Purchase Price $ 30, 000.00 $ 42, 000.00
Completion Cost $450, 000.00 $ 30, 000.00
Total Cost $1, 080, 000.00 $ 72, 000.00
Gross Condo Sale $2, 025, 000.00 $ 135, 000.00
Cost $(1, 080, 000.00) $(72, 000.00)
Gross Profit $ 945, 000.00 $63, 000.00
Potential $16, 200 Gross Monthly Income
Assuming a 10% Vacancy Rate
(Potential $18, 000 At 100% Occupancy)
Property Description:
One (1) Four story Wood frame building with a painted Brick exterior Finish. The building has a flat rubber roof that was replaced in 2006. The building has been gutted down to the bare walls and all units have new electric, HVAC, plumbing, sprinkler system, interconnect fire alarm system, new windows, and doors. The building need the following:
1. Drywall
2. Painting
3. Flooring
4. Kitchens
5. Baths
Sale Price: $630, 000
For further information, Please Contact:
Peter Weincek
410-803-1874
midatlantic4(at)netzero.net
|
