1322 DOWNING PL NE: 4-UNIT ASSET WITH VALUE-ADD & OWNER-OCCUPANT UPSIDE. Solid brick 4-unit building situated in an established Northeast D.C. corridor, featuring three occupied units providing immediate rental income and one vacant unit ready for owner-occupancy or market lease-up. Offered at exceptional price, the property presents a direct physical… Read More value-add opportunity to build equity over time through systematic interior renovations and finish updates. Purchasing this 4-unit building as a qualifying individual owner-occupant provides the legal pathway to file for the Small Landlord Exemption from D.C. rent control stabilization regulations with the Rental Accommodations Division (RAD). An owner-occupant can utilize incoming rents from the three occupied units to directly offset monthly mortgage debt service while incrementally executing property improvements. This strategy allows the owner to reposition the building and capture significant long-term equity appreciation as local market fundamentals continue to recover and strengthen. DISCLAIMER: buyer's broker are responsible for performing all due diligence to verify existing lease terms, Certificate of Occupancy status, Basic Business License requirements, and RAD rent control exemption filing criteria. Read Less
Courtesy of Abel M Gebremichael, Real Broker, LLC 855-450-0442
Listing Snapshot
Days Online
2
Last Updated
Property Type
Quadruplex
Square Ft.
2,600
Lot Size
0.08 Acres
Year Built
1943
MLS Number
DCDC2284044
Additional Details
Building
Built in 1943, Living area: 2600, Construction Materials: Brick
Cooling
None
Accessibility Features
None
Floors
Carpet
Heating
Radiator
Income
Apartment Rentals
Lot
0.08 acres
Owner Pays
Repairs, Water, Trash Collection
Property
Below Average, Other structures: Above Grade, Below Grade
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