202-431-3346
501 Mellon St SE
Washington, DC 20032
Congress Heights
HIGHLIGHTS
- 501 Mellon Street is a 10-unit apartment building with three two-bedroom and seven one-bedroom units, all averaging 700 to 900 square feet.
- Washington, DC’s Congress Heights neighborhood is within the metro’s Opportunity Zone and five minutes from public transportation.
- Offered to the market as a foreclosure sale with an immense value-add opportunity to convert to condos and/or raise NOI upon unit turnover.
- Currently, each unit is separately metered for electric and gas, shielding ownership from significant uncontrolled costs.
- 67% of the 5-mile radius is renter-occupied households; of this, 39% are one- and two-unit layouts, coinciding with the subject property’s unit mix.
- Local POIs nearby include the Congress Heights Playground, the East Potomac Golf Course, the Mt. Vernon Hiking Trail, and Montgomery Dog Park.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
10-Unit MFR Building With Significant Upside
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1951
PARKING SPACES
2
LAND DETAILS
LAND ACRES
0.18 AC
LAND SF
7,898 SF
ZONING
R-3
APN/PARCEL ID
5984-0043
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202-431-3346
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202-431-3346
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