1430 A Street SE

Description

1430 A Street SE is a 100% vacant 4-unit multifamily building located in the Hill East neighborhood of Washington, DC. The ASSETThe Property has a unit mix consisting of four (4) one-bedroom, one bath units. While currently configured as one-bedrooms, a new owner could look to reconfigure units into two-bedroom units, with similarly-sized nearby comparable units achieving $2,700 - $3,000 per month in rent. Also, the building sits on a lot that is 2,410 SF and is zoned RF-1, which presents the opportunity for a developer to expand the exiting building's square footage by-right, unlocking unused allowable density through the addition of a third level (and lower level).THE LOCATION1430 A Street SE is less than a 15-minute walk from three Metro Stations " Stadium-Armory (0.4 miles), Potomac Avenue (0.6 miles) and Eastern Market (0.8 miles). The Property is also just 2 blocks from Lincoln Park and is a 20-minute walk to high-end retailers, grocers, dining, and entertainment options around Eastern Market and Barracks Row, and 1.6 miles to Navy Yard. The Property is a short walk from the 190-acre RFK Stadium Campus, which is poised for future redevelopment. POTENTIAL RENT CONTROL EXEMPTIONIndividual owners of four or less rental units in the District of Columbia may file a rent control claim of exemption form pursuant to the Small Landlord (2.05 (a) (3) section of the Rent Stabilization Program of the Rental Housing Act, thereby exempting the buildings units from DCs rent control regulations.The Property is being sold simultaneously with 1428 A Street SE (MLS# DCDC2160054), which is adjoining to 1430 A Street SE. 1428 A Street SE is also a 4-unit multifamily asset (3 of 4 units are vacant). The assets can be sold together or separately.