2515 22Nd Street Ne Washington, DC 20018

Value add opportunity in Woodridge! TOPA has been cleared, ready to close. Seller may be able to assist with vacating the building. 2515 22nd St NE (4 units) is being sold along with 2513 22nd St NE (2 units) for a total price of $1,300,000. All 6 units across both buildings are configured as one bedroom / one bath apartments but it is possible to add bedrooms in all units. The buildings have large unfinished basements that can be converted into living space. There is currently 1 vacant unit, the other 5 are occupied. In-place rents range between $750/month and $1,384/month. DCHA's rent reasonableness rent estimator tool has 2 bedrooms in the neighborhood at $2,200/month and 3 bedrooms at $3,295/month. Pro forma annual rents on the high end are $237,240! Units are in good condition but dated. Electric and gas are separately metered. The lot is large and deep, measuring 7,500 SF. Zoning for both parcels is R-1B. Contact us today with any questions!