Description
THE OPPORTUNITY: Foote Flats is a 12-unit multifamily building located in the highly desirable Deanwood neighborhood. This property offers a prime opportunity for value creation though a combination of physical upgrades and repositioning.SIGNIFICANT VALUE-ADD POTENTIAL:The building offers multiple avenues for increasing revenue. Current rents are well below market levels, with comparable units in the area achieving higher rents. Investors can further capitalize by reconfiguring units, optimizing layouts, and leveraging current vacancies to increase gross rental income.ABOVE-AVERAGE UNIT SIZES:The units are larger than typical comparables in the area, offering flexibility for a new owner. This additional square footage presents conversion opportunities"such as transforming one-bedroom units into two-bedroom configurations and two-bedrooms into three-bedroom layouts"further enhancing the assets value and return on investment.PRIME, WELL-CONNECTED LOCATION:The Property is located just a 15-minute walk from the Capitol Heights Metro Station and sits directly adjacent to Eastern Avenue, with convenient access to multiple bus routes. This central location offers excellent connectivity across the DMV region, meeting the growing demand for housing options with easy access to public transportation.PROXIMITY TO HD WOODSON HIGH SCHOOL:The Propertys proximity to HD Woodson High School offers a strategic advantage. Being just a block away from this newly renovated school with modern facilities and active community programs makes the location especially attractive to families. This appeal is likely to drive demand for larger units, foster long-term leases, and enhance the overall neighborhood desirability.
Description
THE OPPORTUNITY: Foote Flats is a 12-unit multifamily building located in the highly desirable Deanwood neighborhood. This property offers a prime opportunity for value creation though a combination of physical upgrades and repositioning.SIGNIFICANT VALUE-ADD POTENTIAL:The building offers multiple avenues for increasing revenue. Current rents are well below market levels, with comparable units in the area achieving higher rents. Investors can further capitalize by reconfiguring units, optimizing layouts, and leveraging current vacancies to increase gross rental income.ABOVE-AVERAGE UNIT SIZES:The units are larger than typical comparables in the area, offering flexibility for a new owner. This additional square footage presents conversion opportunities"such as transforming one-bedroom units into two-bedroom configurations and two-bedrooms into three-bedroom layouts"further enhancing the assets value and return on investment.PRIME, WELL-CONNECTED LOCATION:The Property is located just a 15-minute walk from the Capitol Heights Metro Station and sits directly adjacent to Eastern Avenue, with convenient access to multiple bus routes. This central location offers excellent connectivity across the DMV region, meeting the growing demand for housing options with easy access to public transportation.PROXIMITY TO HD WOODSON HIGH SCHOOL:The Propertys proximity to HD Woodson High School offers a strategic advantage. Being just a block away from this newly renovated school with modern facilities and active community programs makes the location especially attractive to families. This appeal is likely to drive demand for larger units, foster long-term leases, and enhance the overall neighborhood desirability.
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