316 62Nd StWashington, DC 20019

Property Details for 316 62Nd St

Year built

1953

Construction

BRICK

Lot size

0.16 AC

Property size (Sq ft)

5,076 SF

Zone code

R-2

Property type

Apartment buildings

APN

5267 0810

APU

52670810

Description

This exceptional six-unit apartment building located at 316 62nd St NE, Washington, DC 20019, presents a compelling investment opportunity. Boasting a total of 5,076 square feet, this fee-simple property is situated on a 0.16-acre lot and offers a strong price per square foot of $137.88. The asking price is $699,900. Constructed in 1953, the building is a six-story structure zoned R5A, providing flexibility for future development or renovations. Each of the six units contributes to a robust rental income stream. The property features on-street parking, a significant advantage in this desirable Washington, D.C. neighborhood. The property's location in the District of Columbia offers easy access to various amenities and transportation options. The building's solid construction and established rental history make it an attractive prospect for both seasoned investors and those new to the multifamily market. The property's assessed parcel number (APN) is 5267//0810. This is a rare opportunity to acquire a well-maintained multifamily property in a thriving urban area. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,017,301

  6.5%

  $939,047

  7%

  $871,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,606

  Geo Method

  $1,314,001

• Alternative Use

  Use

  Valuation

  Residential

  $939,047

  Hospitality

  $860,162

  Educational

  $715,645

  Medical

  $740,257

  Retail

  $1,113,226

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.8936

Longitude

-76.9127

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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