2822 28th St SE
Multifamily | 6 Units | $250,000/unit
Marketing description
Introducing an exceptional investment opportunity in Washington, DC! Welcome to 2822 28th Street, SE a charming multifamily property with six units, located in the sought-after area of Washington, DC. This well-maintained building, constructed in 1943, boasts a total of 4,658 square feet and sits on a land area of 4,481 square feet. Featuring a mix of spacious 1 and 2-bedroom units, the property offers a lucrative investment with a projected cap rate of 8.11%. With a market cap rate of 5%, this property presents a compelling opportunity for investors seeking stable returns. The units are projected to yield an annual total income of $169,800.This property is not just a place to live but also a savvy investment choice in a prime location.
Residents will enjoy the added convenience of three dedicated parking spaces. Ideally located, this property is just steps from the lush expanses of Dupont Park and the scenic beauty of Hillcrest Garden, making it perfect for outdoor enthusiasts. For the active nature lovers, the proximity to the George Washington Carver Nature Trail offers a tranquil escape into the area's natural beauty. The Anacostia Neighborhood Library, with its wealth of resources and community programs, is also nearby.
Whether you're an investor aiming to expand your portfolio or seeking a multifamily property with strong income potential, this apartment building provides an unparalleled opportunity. Don't miss the chance to own and add a valuable asset to your portfolio in the vibrant DC market!
Investment highlights
HIGHTLIGHT ONE
Randle Heights offers a range of amenities that cater to its residents' needs. The Anacostia Pool and Recreation Center is a hub for community activities, providing an indoor pool, workout rooms, and meeting spaces for local organizations.
HIGHLIGHT TWO
Randle Heights combines historical significance with a vibrant and diverse community. Its rich history is reflected in its post-World War II housing stock, which includes a mix of single-family homes, townhomes, and apartments.
HIGHLIGHT THREE
A significant milestone for the community was the preservation of affordable housing for 195 families at Randle Hill Apartments. This $51 million project ensured continued access to affordable housing, addressing housing instability exacerbated by the pandemic.
The neighborhood is home to a population of approximately 33,885 residents, with a median age of 42 years. It is a community that values diversity, as seen in its varied educational attainment levels and a mix of renters (73.3%) and homeowners (26.7%). The median household income of $53,015 reflects a working-class demographic, with monthly housing costs averaging $1,383, making it a relatively affordable area compared to other parts of Washington, D.C.
The community's educational profile is diverse, with a significant portion of residents having completed high school (40%) or attended some college (26%), while others have achieved higher education degrees, including Bachelor's (15%) and Graduate Degrees (11%). This mix of educational backgrounds contributes to the neighborhood's dynamic character.
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