4801 3Rd Street NW

Attention Investors Exceptional Basis for a 5Unit ValueAdd Play in Petworth. 4801 3rd St NW presents a rare opportunity to acquire a fiveunit asset at a price point that supports meaningful repositioning and longterm appreciation. The property is currently operated under a grouprental structure with one longterm tenant, generating a combined monthly income of $8,084. With three 3bedroom units and two 2bedroom units, the building is wellpositioned for an investordriven transition to the voucher program. Recent Rent Resonablenss rent estimator guidance for this ZIP code reflects $4,113 for 3BR units and $2,805 for 2BR units, providing a clear framework for income growth once an investor implements a structured leaseup and compliance plan. A fully stabilized rent roll at these programfriendly levels would reflect an illustrative pro forma gross annual rent of approximately $185,712. After accounting for typical operating expenses in this asset class, investors often model an estimated stabilized NOI in the $115,000$125,000 range, depending on final operating strategy, compliance execution, and program approvals. These figures are for illustrative underwriting purposes only and are not guarantees of future performance. At an asking price of $699,000, investors acquire a 5unit building in one of DCs most resilient rental corridors at a basis that allows room for operational improvements, licensing cleanup, and strategic repositioning. This profile also aligns well with 1031 exchange objectives, offering a low entry basis, durable demand drivers, and a clear path to forced appreciation through improved operations rather than speculative redevelopment. Many investors underwriting DC multifamily also evaluate potential tenant transition costs as part of their repositioning strategy. While every situation is unique and must comply with DC law, voluntary agreements and negotiated moveouts are common tools that investors model. If capital is allocated toward tenant transition costs, the increased stabilized income potential may shorten the payback period once the building is fully stabilized. Actual outcomes depend on investor execution, tenant cooperation, and program approval. Disclosure: The property is being delivered without a current Basic Business License (BBL). Investors should plan to complete the required licensing steps and ensure full compliance with DC rental regulations as part of their repositioning strategy.