Legal 2 unit in the heart of Columbia Heights ready to earn $55K+/yr with TWO OFF STREET PARKING SPACES and further expansion potential. Additional parking garage, extra lot or huge garden may be negotiated separately for buyers looking to create something unique directly in the NAMED alley behind (further residential development possible).
2BR/1.5 BA on two levels-wood floors, updated lighting, a stylish kitchen with stainless steel appliances and exit to rear patio and parking. Enjoy your morning coffee on the inviting front porch. Living dining, kitchen and powder room on main level and two generous size bedrooms, full bath +den/office that is currently being used as a full-size laundry room.
1BR/1BA separately metered basement unit makes for perfect for rental income, guest suite, or separate professional home office.
Easy access to Metro, restaurants, parks, and shopping, this home is an absolute gem. Don't miss your chance to own in one of D.C.'s most vibrant neighborhoods.
Income
* Upper Unit Rental Income: $3,500 per month ($42,000 per year)
* Basement Unit Rental Income (Furnished): $1,800 per month ($21,600 per year)
* Total Gross Rental Income: $63,600 per year
Operating Expenses
* Property Insurance: $1,520 per year
* Property Taxes: $7,000 per year
* Total Operating Expenses: $8,520 per year
Net Operating Income (NOI)
Gross Rental Income - Operating Expenses
$63,600 - $8,520 = $55,080 per year
Capitalization Rate (Cap Rate)
NOI / Asking Price
$55,080 / $875,000 = 6.3CAP
Also a strong contender for owner occupant or investors looking for rental income in a desirable location.
