List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding Begins Friday, May 2nd and ends Wednesday, May 7, 2025 @ 12:00PM. Excellent opportunity to purchase a partially-leased, 9 unit apartment building. The property is well-located in the heart of the "Benning Heights" neighborhood of NE, Washington. According to the DC Office of Tax and Revenue, the property is 5,500 +/- sq. ft. of land area. It is zoned RA-1 and is served by public water, sewer, gas and electric. The property is improved by a three-story multi family building. The building's unit mix consists of 8 1 Bedroom/1Bath units and 1 studio. Based on the Rent Roll as of September, 2023, eight of the building's 10 units are occupied. All units are separately metered for gas and electric. Tenants pay their own gas and electric expense. Unit 102: Currently rented for $955.33/month Unit 103: Currently rented for $1,159.75/month Unit 104: Currently rented for $1,184.44/month Unit 201: Currently rented for $1,114.04/month Unit 202: Currently rented for $1,157.68/month Unit 203: Currently rented for $1,047.73/month Unit 301: Currently rented for $922.01/month Unit 302: Currently rented for $1,050/month Unit 303: Vacant • Gross Scheduled Monthly Rent = $8,590.98/month (Based on the Rent Roll as of September, 2023 which has 1 vacancy) • Gross Scheduled Annual Rent = $103,091.76/year (Based on the Rent Roll as of September, 2023, which has 1 vacancy) **Gross Potential Annual Rent Of $136,320** **Gross Potential Monthly Rent of $11,360** Please note that the estimated monthly rents for the vacant units used for the Gross Potential Monthly and Gross Potential Annual Rent calculations above were based on the DCHA's (DC Housing Authority) newly established process for determining rent reasonableness through the "Market Rent Estimator" found on "AffordableHousing.com." Links to the DCHA's "Rents" webpage and the "Market Rent Estimator" found on AffordableHousing.com can be found in the "External Links" section above. No TOPA contingency needed. Diligence Package: A copy of the purchase and sale agreement with assorted addenda are located in the documents section. In order to gain access, you must create a free account as well as accept a non disclosure agreement. Auction Notes: Online Only Auction: Bidding Begins Friday, May 2nd and ends Wednesday, May 7, 2025 @ 12:00PM Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.