401 Chaplin St, Washington, DC 20019
43 Unit Apartment Building | $4,625,000 ($107,558/Unit) | Washington, DC 20019
For Sale
Active
9 pictures
Asking Price $4,625,000
- Property Type
-
Multifamily
- Square Feet
- 47,457 SF
Listing Contacts
LaMarr Datcher
Josh Feldman
Ian Ruel
- Property Info
Property Overview
Feldman Ruel is pleased to present Bethune House, a 43-unit multifamily property located at 401 Chaplin Street SE in the Fort Dupont Park neighborhood of Washington, D.C. The subject property consists of 23 one-bedroom, onebathroom units, 1 two-bedroom, one-bathroom unit, and 19 two-bedroom, one-and-one-half-bathroom units. Of the 43 total units, 10 are under a project-based voucher contract, and 21 are under HUD Housing Assistance Payment (HAP) contract, ensuring strong collections and predictable income.
The remaining 12 units have a fifty percent set-aside and are reserved for tenants making fifty percent of the Area Median Income (AMI). The subject property has been well maintained and offers immediate expense upside by replacing the current hotel-style air conditioning units with electric heat pumps, alleviating the burden of gas heat from the owner. The cost to up-fit has a two-year payback and will allow tenants to be in full control of their heating and air conditioning year round.
The remaining 12 units have a fifty percent set-aside and are reserved for tenants making fifty percent of the Area Median Income (AMI). The subject property has been well maintained and offers immediate expense upside by replacing the current hotel-style air conditioning units with electric heat pumps, alleviating the burden of gas heat from the owner. The cost to up-fit has a two-year payback and will allow tenants to be in full control of their heating and air conditioning year round.
Property Details
- Class
- C
- Year Built/Renovated
- 1965/2012
- Stories
- 5
- Lot Size (sq. ft)
- 28,750 SF
- Units
- 43
Highlights
- FEDERAL AND LOCAL SUBSIDIES
- FAVORABLE UNIT MIX
- ON-SITE PARKING
- WELL-MAINTAINED PROPERTY
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