4208 Foote Street NE

MUST SEE 4-Unit Apartment Complex with 2 Additional Bonus Units. 4-unit apartment complex featuring an additional 2 bonus units in the basement that are currently owner-occupied for a total of (6) one-bedroom units. Many units are in solid condition, with the owner recently renovating one of them. One-bedroom units in this neighborhood have the potential to generate $1,326+ per month through the DC Housing Choice Voucher (Section 8) program. This is a value-add multifamily property with units in various conditions. The owner pays for water/sewer, heating gas, and common area electric. Tenants pay for cooking gas, in-unit electricity, Wi-Fi, cable, etc. General monthly expenses have a low run rate, supporting strong income potential: Trash $200/month, Water $350/month, Gas/Heat $90$500 (varies seasonally), Insurance $416/month 4208 Foote Street NE is located directly off Benning Road NE onto Minnesota Avenue and is positioned near several transformative redevelopment projects, local retail and grocery stores, and transportation. The property is conveniently located between two Metro stops: Minnesota Avenue Metro Station, which is just a 2-minute walk from the property, and Deanwood Metro Station, which is approximately a 15-minute walk away. The Deanwood Metro Station is set to undergo a major redevelopment, where the Washington Metropolitan Area Transit Authority (WMATA) has selected a development team to transform the underutilized parking lot into a transit-oriented mixed-use project. Plans include 169 residential units, ground-floor retail and services, and community amenities such as a teen tech center. This property is also in close proximity to the much-anticipated new stand-alone Deanwood Library, a $27.6M civic investment being developed as part of the Metro joint development project, expected to serve as a long-term community anchor. Most notably, this property is located approximately 1.8 miles from the future RFK Stadium redevelopment site. The stadium is set to transform areas east of the Anacostia River and adjacent neighborhoods like Deanwood, which are primed for significant economic impact promising for any long-term buy-and-hold investor. Owner occupies two units, and an additional two units are tenant-occupied at $850 and $960 per month. The property will be delivered with four vacant units. This is subject to change depending on the contract date.Excellent opportunity to own small multifamily property in the nations capital and benefit from potential tax advantages, depreciation, cash flow, and long-term appreciation. Bring your best offer. Schedule your showing today!