School District: District Of Columbia Public Schools
Address: 1275 MEIGS PL NE
State: District Of Columbia
This could be a great opportunity to own a freshly renovated residential multi family condo building in the blooming neighborhood of Trinidad. This boutique building includes a total of 3 units, and all 3 units are 3 bedrooms & 1 full bath. It could be an excellent opportunity for a potential investor to obtain a 30-year fixed residential financing while rates are low. Also it could be a smart owner-user purchase, allowing the owner to live in one unit and the enjoy the top of the market rental income from the other two units.
Note: This listing is for the entire building, so 1275 Meigs Place includes unit #'s 3, 2, and 1. Each unit has the same exact floorplan, except unit #1 has high ceilings. They feature real hardwood floors, fresh paint, brand new carpet (in the bedrooms only), plenty of natural light, front loading stacked washer & dryer, new thermostat, new smoke & CO detectors, HVAC, hot water heater, and updated kitchen. The kitchens boast new gray cabinets, granite counter tops, and stainless steal appliances. The units also include private back doors/entrance/exit off of the kitchen. The full bathrooms include shower & tub combo, and ceramic tile flooring. The 2nd unit only has a more modern feel with an updated vanity. Each unit has a newer 30 gallon hot water heater and stacked wash & dyer. Unit 1 has a newer HVAC system. A new privacy fence was installed in 2021. All three units are vacant and could be a low maintenance investment with a solid return. As of June 2021, the rental comps are around $2,000 - $2,839 a month, per unit. The price per unit is $367k. Please run your own numbers and let me know if you have any questions.
All units are separately metered for gas/electric allowing the tenants to pay their own utilities. There is one water meter into the building which can be billed back to the tenants to increase an investor's return. Each unit is @ 825 sqft.
Note: The vacant homes/buildings across the street were recently sold and should be going under construction, so now is a good time to buy. There is an inoperable Intercom system for buzzing in guest. There is plenty of street parking in front of the building. Each unit as it's own Tax ID.
In addition, this property is conveniently located near Metro, H Street corridor, Gallaudet University, Ivy City, Union Market, Retail, Entertainment, Capital bikeshare, Restaurants, Markets, Coffee shops, Gas stations, and more.
Courtesy of: Long & Foster Real Estate, Inc. Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 25th September, 2021 6:44 AM
Angie McDaniel is a licensed REALTOR® and subscribes to NAR's strict Code of Ethics, which is based on honesty, professionalism and the protection of the public. We fully support and operate in accordance with The Fair Housing Act.