1428 A Street SE Washington, DC 20003

1428 A Street SE is a 75% vacant 4-unit multifamily building located in the Hill East neighborhood of Washington, DC. The ASSET The Property has a unit mix consisting of four (4) one-bedroom, one bath units. While currently configured as one-bedrooms, a new owner could look to reconfigure units into... two-bedroom units, with similarly-sized nearby comparable units achieving $2,700 - $3,000 per month in rent. Also, the building sits on a lot that is 2,870 SF and is zoned RF-1, which presents the opportunity for a developer to expand the exiting building's square footage by-right, unlocking unused allowable density through the addition of a third level (and lower level). THE LOCATION 1428 A Street SE is less than a 15-minute walk from three Metro Stations â Stadium-Armory (0.4 miles), Potomac Avenue (0.6 miles) and Eastern Market (0.8 miles). The Property is also just 2 blocks from Lincoln Park and is a 20-minute walk to high-end retailers, grocers, dining, and entertainment options around Eastern Market and Barracks Row, and 1.6 miles to Navy Yard. The Property is a short walk from the 190-acre RFK Stadium Campus, which is poised for future redevelopment. POTENTIAL RENT CONTROL EXEMPTION Individual owners of four or less rental units in the District of Columbia may file a rent control claim of exemption form pursuant to the Small Landlord (2.05 (a) (3) section of the Rent Stabilization Program of the Rental Housing Act, thereby exempting the buildingâs units from DCâs rent control regulations. The Property is being sold simultaneously with 1430 A Street SE (MLS# DCDC2159694), which is adjoining to 1428 A Street SE. 1430 A Street SE is also a 4-unit multifamily and is 100% vacant. The assets can be sold together or separately. Continue reading