Remarks

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.

Details

MLS#: VAAR2062360
Price: $1,795,000

Year Built: 1959

County: ARLINGTON
Subdivision: Penrose
Tax Fee: 14054

School Elementary: ALICE WEST FLEET
School Middle: JEFFERSON
School High: WAKEFIELD
School District: ARLINGTON COUNTY PUBLIC SCHOOLS