1253 16Th St Washington, DC 20002

Property Details for 1253 16Th St

Year built

1952

Property size

1,184 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a beautifully renovated two-unit multifamily building located at 1253 16th St NE, Washington, DC 20002. Built in 1952 and extensively renovated in 2019, this property boasts 1,184 square feet on a 1,200 square foot lot. Each unit offers one bedroom and one bathroom, complete with modern amenities. The units feature fresh paint, new flooring, new ovens/ranges, and tankless water heaters. Separate metered utilities ensure efficient cost management. Central air conditioning provides year-round comfort. A fully fenced backyard and one off-street parking space add to the property's appeal. The property is currently vacant, presenting immediate rental income potential. The roof underwent professional servicing in 2022. Situated in the trendy Trinidad neighborhood, this property enjoys proximity to a vibrant array of restaurants, bars, coffee shops, Union Market, and convenient public transportation options including the D3, D4, D8 buses, and the H Street trolley. Trinidad is known for its walkability, making this an ideal location for residents. This property is zoned R. The asking price is $599,999, representing a price per square foot of $506.76 and a price per unit of $299,999.50. A significant advantage is the availability of an assumable FHA loan with a 3.49% interest rate. Furthermore, the property's location within a low-moderate income census tract qualifies it for Truist's Community Homeownership Incentive Program (CHIP), potentially allowing buyers with a minimum 660 credit score to secure 100% financing without private mortgage insurance (PMI). This presents a compelling opportunity for savvy investors seeking a strong return on investment in a desirable Washington, D.C. neighborhood.