3867 Alabama Ave SE - Apartments FOR SALE
Washington, DC 20020 |
3867 Alabama Ave SE
Washington, DC 20020
HIGHLIGHTS
- A 30,827 SF building (including 5,000 SF of lower-level space) featuring 31 units, including 28 one-bedroom apartments and 3 two-bedroom apts
- Currently centrally metered for electricity and gas, offering an opportunity to convert to individual unit metering to significantly boost net income
- The 5,000 SF lower level, with 8-foot ceilings, existing plumbing, and egress, can be renovated into four additional rental units
- Achieve a projected 8.34% CAP rate through a Housing Provider Voucher (HPV) leasing strategy
- Recent upgrades in multiple units include new appliances, hardwood flooring, updated kitchen cabinets, tile and windows providing move-in ready apts
- Electrical, plumbing, and roofing systems have all been updated within the past 10 years, eliminating the need for major upfront repairs
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
31 Unit Apartment - 27 Vacancies - Value Add
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
30827
STORIES
3
YEAR BUILT
1939
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
5522-0800
