2605 N Pershing Dr - Multi-Family FOR SALE


Arlington, VA 22201- Clarendon/Courthouse
$1,053,000 USD
703-836-1116
2605 N Pershing Dr, Arlington, VA for Sale
$1,053,000 USD
Multi-Family - FOR SALE
1/18
null | 3.53% Cap Rate

2605 N Pershing Dr
Arlington, VA 22201
Clarendon/Courthouse


HIGHLIGHTS

  • 4 Blocks To Clarendon Metro Station
  • Upside Potential - Underutilized Lower Level & Attic Level
  • Value Add Option - Modernize Units To Achieve Market Rents
  • 100% Occupied - Short Term Leases

OVERVIEW

Prime Multi-Family Investment Opportunity. Fully leased 2-unit garden-style building in sought after Lyon Park. Excellent upside - ideal for owner occupancy with additional rental apartment. Potential for added value in upgrading and expanding the lower-level to create a large combined 2-floor unit, or modernize the existing units, for added value to bring the rent up to market rate. Currently leased below comps in the neighborhood. Consisting of two residential apartments – each with approx. 1,044 SF, 2 bedrooms, 1 bathroom, galley kitchen, carpet flooring, and central HVAC. Amenities include 2 off-street parking spaces, on-site laundry room, basement storage, walk-up attic storage and shared backyard. Recent updates - roof (2020), HVAC and hot water heaters (2015). The property has been under the same family ownership for over 45 years. Just minutes to the Pentagon, Amazon HQ2, Washington DC, Reagan National Airport and 4 blocks to Clarendon Metro Station. Listed at Arlington County Tax Assessment value of $1,053,000.

FOR SALE DETAILS

PRICE

$1,053,000 USD

PRICE/SF

$336 USD /SF

# OF UNITS

2

PRICE/UNIT

$526,500

CAP RATE

3.53%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime Multi-Family Investment Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1957

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,611 SF

ZONING

R-5

APN/PARCEL ID

18-040-002

ASK ABOUT THIS PROPERTY

Virginia SmithArlington Realty, Inc.More Info
703-836-1116

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Virginia SmithArlington Realty, Inc.More Info
703-836-1116

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.