Property Details
SELLER FINANCING AVAILABLE. Value-add opportunity for an owner-occupant or investor exempt from DC rent control (owns less than 5 units in their personal name). This two-unit building features (2) 1-bedroom apartments with private exterior entrances. Units are in average condition and should pass a FHA/VA/Fannie appraisal. Unit #1 is delinquent $20k+ in rent and also maintains below-market rent ($660/month), allowing for a rent-control exempt investor to raise rent or an owner-occupant to provide a notice to vacate for personal use. Unit #2 is current on rent ($1,095/month) and is open to vacating with 60-90 day notice and a reasonable buyout. Both units are month-to-month. An assumable $256,870 seller-financed note ($962/month, 4.49%, Interest-Only, Maturity July 2029) is available for qualified buyers. Seller WILL NOT convey both units vacant at Settlement. Certificate of Occupancy application is in process and will convey at Settlement.
Chris Burns
LISTING AGENT