Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1959
Sq.Footage
N/A
Prime Multi-Family Investment Opportunity. Fully leased 5-unit garden-style building in sought after Penrose. Excellent upside - potential for added value in converting the garage into an efficiency apartment, and/or modernize the units, to bring the rent up to market rate. Currently leased below comps in the neighborhood. Current NOI of approx. $95,346/yr. (cap rate: 5.31%). Could be ideal for owner occupancy with additional rental apartments. Consisting of 5 apartments – 4 units with 2br./1ba. and 1 unit with 3br./1.5ba. Amenities include 6 off-street parking spaces, laundry room, storage room. Many recent updates (see agent for a full list). The property has been under the same family ownership for over 45 years. Just minutes to the Pentagon, Amazon HQ2, Washington DC, Reagan National Airport. Sold in As-Is condition.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Wall Unit(s), Electric
-
Heating YN
YES
-
Heating
Electric
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Garage, Parking Lot
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Features
Corner Lot
-
Lot Size(acres)
0.19
-
Property Type
Commercial Sale
Price
-
Sales Price
$1,795,000
-
Tax Amount
14054.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
ALICE WEST FLEET
-
Middle School
JEFFERSON
-
High School
WAKEFIELD
Property Features
-
Sewer
Public Sewer
-
Tax Lot
24
-
Water Source
Public
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Location
County
ARLINGTON
Elementary School
ALICE WEST FLEET
Middle School
JEFFERSON
High School
WAKEFIELD
Listing Courtesy of Virginia S Smith , Arlington Realty, Inc.
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AGENT
Andrew Boateng
Call Andrew today to schedule a private showing.
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