INVESTOR ALERT! Rare opportunity to acquire a well-maintained 5-unit multifamily property in the highly desirable Petworth/Northwest Washington, DC neighborhood featuring an assumable FHA loan at just 2.875%—an exceptional financing opportunity that is extremely difficult to find in today's market. Qualified buyers may be eligible to assume the existing loan, creating substantial savings compared to today's financing rates and enhancing overall investment returns.
The main level is handicap accessible and was previously utilized as a medical facility, providing additional flexibility for future use (subject to applicable approvals). There is also potential to convert the property into a 6-unit building, offering an opportunity to further increase income and value.
Located just off New Hampshire Avenue NW, the property is surrounded by shopping, restaurants, hospitals, Metro access, parks, and major commuter routes. Petworth continues to experience strong redevelopment, making it one of Northwest DC's most attractive neighborhoods for long-term appreciation and rental demand.
Whether you're purchasing your first multifamily investment or expanding your portfolio, this property offers an outstanding combination of below-market financing, stable cash flow potential, and future upside. Recent improvements include fresh exterior paint, professional landscaping, and interior upgrades throughout all five income-producing units, minimizing near-term capital expenditures.
Unit Mix & Estimated (Section 8 Rents)
• 1 × 3-Bedroom Unit
Estimated Rent: $3,850/month
Total Monthly Income: $3,850
• 3 × 2-Bedroom Units
Estimated Rent: $2,850/month each
Total Monthly Income: $8,550
• 1 × 1-Bedroom Unit
Estimated Rent: $1,900/month
Total Monthly Income: $1,900
Total Potential Rental Income 5 Units — Approximately $14,300/month
Estimated Annual Gross Income Approximately $171,600/year
At the asking price of $1,495,000, the projected gross rental yield is approximately 11.5% before operating expenses.
Investment Highlights:
• Assumable FHA loan at an exceptional 2.875% interest rate.
• Five income-producing units with potential to convert to 6 units (buyer to verify).
• Handicap-accessible main level with prior medical office use.
• Recently updated with exterior and interior improvements.
• Strong Section 8/Housing Choice Voucher income potential.
• High-demand rental location with low vacancy characteristics.
• Developing neighborhood with continued investment and appreciation potential.
• Excellent opportunity for both first-time and seasoned multifamily investors.
Opportunities combining below-market assumable financing, immediate income potential, future value-add possibilities, and a prime Northwest DC location are exceptionally rare. Whether your strategy is cash flow, long-term appreciation, or both, this property offers a compelling investment opportunity in one of Washington, DC's most sought-after rental markets.
