Listed by Fairfax Realty
$1,150,000
5501 Foote Street Northeast
Details
Property Type Multifamily
Sub Type Apartment Building
Units 6
Cap Rate 8.50%
Tenancy Multi
Rent Bumps No
Class C
Year Built 1960
Buildings 1
Lot Size (SqFt) 2,584
Zoning R2
Investment Type Stabilized
6-unit voucher rents with 2 vacancies ready for market or renovation
Investment highlights
This stabilized 6-unit multi-family asset at 5501 Foote St NE offers a premier investment opportunity in the high-growth Deanwood corridor, currently operating at 66% occupancy with average rents of $1,725 and a consistent 12% year-over-year rental growth. The property features a resilient mix of market-rate and voucher-assisted units, providing immediate cash flow while offering the flexibility to either lease up the remaining vacant units as-is or renovate them to further maximize market rents. With a clear path to an estimated 9% Cap Rate upon full stabilization, this building is perfectly positioned to capture significant upside in one of DC’s most rapidly appreciating submarkets.
Listing Contacts
Listed by Fairfax Realty
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