Foote Flats
Multifamily | 12 Units
Marketing description
The Opportunity: 12-unit building in Deanwood with strong value-add potential through upgrades and repositioning.
Value-Add Potential: Below-market rents with opportunities to increase income through unit reconfiguration and layout optimization.
Large Unit Sizes: Spacious layouts allow for conversions, such as turning one-bedrooms into two-bedrooms, boosting value and returns.
Prime Location: 15-minute walk to Capitol Heights Metro with direct access to bus routes and the broader DMV area.
Near HD Woodson High: Proximity to a modern high school enhances appeal for families, supporting demand for larger units and long-term leases.
Investment highlights
THE OPPORTUNITY
Foote Flats is a 12-unit multifamily building located in the highly desirable Deanwood neighborhood. This property offers a prime opportunity for value creation though a combination of physical upgrades and repositioning.
SIGNIFICANT VALUE-ADD POTENTIAL
The building offers multiple avenues for increasing revenue. Current rents are well below market levels, with comparable units in the area achieving higher rents. Investors can further capitalize by reconfiguring units, optimizing layouts, and leveraging current vacancies to increase gross rental income.
ABOVE-AVERAGE UNIT SIZES
The units are larger than typical comparables in the area, offering flexibility for a new owner. This additional square footage presents conversion opportunities—such as transforming one-bedroom units into two-bedroom configurations and two-bedrooms into three-bedroom layouts—further enhancing the asset’s value and return on investment.
PRIME, WELL-CONNECTED LOCATION
The Property is located just a 15-minute walk from the Capitol Heights Metro Station and sits directly adjacent to Eastern Avenue, with convenient access to multiple bus routes. This central location offers excellent connectivity across the DMV region, meeting the growing demand for housing options with easy access to public transportation.
PROXIMITY TO HD WOODSON HIGH SCHOOL
The Property’s proximity to HD Woodson High School offers a strategic advantage. Being just a block away from this newly renovated school with modern facilities and active community programs makes the location especially attractive to families. This appeal is likely to drive demand for larger units, foster long-term leases, and enhance the overall neighborhood desirability.
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