1638 16th Street SE is a completely, gut renovated, turn-key two-unit property directly across the street from Anacostia high school.
The current owner has a VA loan with a 2.75% interest rate that can be assumed by the buyer.
Live in one unit and have the tenant pay the majority of your mortgage, or rent out both units and cash flow $1,000/month!
Renovated in 2020, the building consists of two apartment units. Both units are three bedrooms, and each unit has one full and one half bathroom. Each unit has a gourmet kitchen with stainless steel appliances, granite countertops, and gas stoves. Luxury vinyl plank flooring and washer and dryer units in each unit make this a highly desirable and maintainable rental.
The building can gross up to $52,992 with each unit renting for $2,208/month with utilities included for Section 8 Voucher tenants. Potential to add two parking spaces in the rear with a new gate and other value add options are possible.
RA-2 zoning allows for additional development in the future. Current FAR is 0.85, zoning permits up to 1.8 by right, which would translate to over 1800 additional square feet that could be added.
Anacostia has been one of the area’s zip codes with the best appreciation over the past five years with the median home price in Anacostia, increasing 32.2% compared to 2018.
With the development of Phase II of The Wharf, St. Elizabeth's and other private and public developments, we expect to continue to see significant appreciation and value in Southeast DC.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 22nd September, 2023 6:54 AM (UTC)
Listing Agent: Russell Lyons
Listing Office: Keller Williams Capital Properties