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Multifamily

5822-5826 Foote Street NE

5822-5826 Foote St NE, Washington, DC 20019

Listing Price: $1,500,000

Number of Units
8
Price/Unit
$187,500
Price/Gross SF
$223.48
Gross SF
6,712

Investment Overview

RENOVATED ASSET 5822-5826 Foote Street NE has had six (6) of its total eight (8) units renovated with updated kitchen appliances, updated bathrooms, and in-unit washers and dryers. FAVORABLE UNIT MIX The property features four (4) two-bedroom, two-bathroom units and four (4) one-bedroom + den, two-bathroom units. RENT GROWTH POTENTIAL Upon turnover, an investor could potentially increase rents to the Deanwood HCVP “with utilities” rate of $1,749 for two-bedroom units and $1,299 for one-bedroom units. As the building features four (4) one-bedroom + den units, an investor could also potentially add bedrooms by either converting the den to a bedroom or by converting the spacious living room to a bedroom, significantly increasing the building’s gross potential rent. LOCATED IN A RAPIDLY GROWING NEIGHBORHOOD 5822-5826 Foote Street NE is located in Deanwood, which is a rapidly growing neighborhood in Northeast DC. The property is surrounded by development and is located just steps from the Maryland and DC border, providing residents convenient access throughout the DC Metropolitan area via nearby major thoroughfares. TRANSIT ORIENTED LOCATION 5822-5826 Foote Street NE is located just 0.7 miles from the Capitol Heights Metro, providing service along the Blue line throughout Maryland, DC, and Virginia. The property is also located just under a 20-minute drive from downtown DC. OFF-STREET PARKING The asset features eight (8) off-street parking spaces in the rear of the property which serve as a valuable amenity for tenants and drive further rental demand for the asset.

Investment Highlights

  • Renovated Asset
  • Favorable Unit Mix
  • Rent Growth Potential
  • Located in a Rapidly Growing Neighborhood
  • Transit Oriented Location
  • Off-Street Parking

Exclusively Listed By

  • Christian Barreiro

    First Vice President Investments

    (202) 536-3704

    Email Christian

    License(s): DC: sp98373426, VA: 0225239551, MD: 5011820

    Washington, D.C.

  • John Slowinski

    Associate

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349, VA: 0225251544

    Washington, D.C.

  • Eric Jentoft-Herr

    Associate

    (202) 536-3779

    Email Eric

    License(s): MD: 681604, DC: SP200203903

    Washington, D.C.

  • Marty Zupancic

    Senior Vice President Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Multifamily

5822-5826 Foote Street NE

Listing Price: $1,500,000

Number of Units
8
Price/Unit
$187,500
Price/Gross SF
$223.48
Gross SF
6,712

Investment Highlights

  • Renovated Asset
  • Favorable Unit Mix
  • Rent Growth Potential
  • Located in a Rapidly Growing Neighborhood
  • Transit Oriented Location
  • Off-Street Parking

Investment Overview

RENOVATED ASSET 5822-5826 Foote Street NE has had six (6) of its total eight (8) units renovated with updated kitchen appliances, updated bathrooms, and in-unit washers and dryers. FAVORABLE UNIT MIX The property features four (4) two-bedroom, two-bathroom units and four (4) one-bedroom + den, two-bathroom units. RENT GROWTH POTENTIAL Upon turnover, an investor could potentially increase rents to the Deanwood HCVP “with utilities” rate of $1,749 for two-bedroom units and $1,299 for one-bedroom units. As the building features four (4) one-bedroom + den units, an investor could also potentially add bedrooms by either converting the den to a bedroom or by converting the spacious living room to a bedroom, significantly increasing the building’s gross potential rent. LOCATED IN A RAPIDLY GROWING NEIGHBORHOOD 5822-5826 Foote Street NE is located in Deanwood, which is a rapidly growing neighborhood in Northeast DC. The property is surrounded by development and is located just steps from the Maryland and DC border, providing residents convenient access throughout the DC Metropolitan area via nearby major thoroughfares. TRANSIT ORIENTED LOCATION 5822-5826 Foote Street NE is located just 0.7 miles from the Capitol Heights Metro, providing service along the Blue line throughout Maryland, DC, and Virginia. The property is also located just under a 20-minute drive from downtown DC. OFF-STREET PARKING The asset features eight (8) off-street parking spaces in the rear of the property which serve as a valuable amenity for tenants and drive further rental demand for the asset.

Exclusively Listed By

  • Christian Barreiro

    First Vice President Investments

    (202) 536-3704

    Email Christian

    License(s): DC: sp98373426, VA: 0225239551, MD: 5011820

    Washington, D.C.

  • John Slowinski

    Associate

    (202) 536-3780

    Email John

    License(s): MD: 5002965, DC: SP200205349, VA: 0225251544

    Washington, D.C.

  • Eric Jentoft-Herr

    Associate

    (202) 536-3779

    Email Eric

    License(s): MD: 681604, DC: SP200203903

    Washington, D.C.

  • Marty Zupancic

    Senior Vice President Investments

    (202) 536-3788

    Email Marty

    License(s): MD: 631902, VA: 0225 187032, DC: SP98368225

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

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