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2427 Irving Street Southeast

Washington DC 20020

2
1332 sq. ft.
2450 sq. ft.
Duplex
Currently for sale - view listing

Overview

Vacant 2-unit residential building coming soon!!! Wow Investors and Landlords what a great opportunity to utilize your 1031 exchange account before the year ends using the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) to leverage or create a new opportunity after updating, leasing and refinancing simultaneously apply for approval for DC's condo conversion meaning (when a property that is owned by a single title holder is transformed into individual residential units that can be sold separately to the public) This strategy can potentially maximize your long term investment goals. Each unit maintained the same long-term tenants for almost 15 years so both apartments definitely need updating to bring the units to today's standards (Both kitchens, baths, all windows, 4 egress doors and sidewalk near front porch area need to be repaired or replaced). Unit #1 and #2 layouts are identical inside. Irving St. lot has a great size fenced backyard with easy alley access which can remain a common area or can be used as private parking for tenants or future condo owners. Both units have a separate back door that provide access to the back yard area from each apartment. Seller Suggestion: To not waste either parties time, buyers please bring your contractor with you to effectively factor in your full cost out of pocket or any other repairs that maybe needed before submitting an offer. Seller Disclaimer to Buyers: this property is Being Sold in "As-Is Condition" please check with your loan officer regarding the lender's required repair criteria before submitting an offer and check with your certified CPA, attorney and/or financial advisor to ensure this deal is a good fit for your real estate portfolio. Only Cash, Conventional, 1031 exchange or FHA 203(k) financing will be accepted. Don't hesitate the time to buy in DC is always 5-10yrs ago which means don't wait to buy in DC buy DC real estate now then patiently sit back and wait.

Features

2 bedrooms
1332 sq. ft. floor area
2450 sq. ft. lot size
Duplex

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