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101 Wayne Pl SeWashington, DC 20032MLS Number DCDC2003852

  • Price: $799,000
  • Est. Mortgage of $/month
  • 101 Days on Market
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Federal 30-year interest rate: 3.05% last updated on Oct 14, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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Pending
101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032101 Wayne Pl Se Washington DC 20032
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    The Opportunity - 4-Unit Cash flowing building in a burgeoning neighborhood. Cash Flowing Asset - The average in-place monthly rent per unit is $1,394, which is strong for this submarket. With a majority of the cap-ex previously completed, ownership has the ability to step in and immediately capitalize on in place cash flow. Rent Control Exempt - Being under five units, the asset is not subject to restrictive Rent Control laws and the inefficiencies associated with ensuring compliance. As rents continue to rise, ownership will have the ability to match future rents with the market. Build Equity at a Discount - With the number of loan products out there for first time buyers, new ownership will have the ability to build equity at a discount compared to local rents. Occupy a Two-bedroom unit while renting out the other three units and pay significantly less in monthly mortgage than market rent for this unit type. Favorable Unit Mix - The Property has a strong mix of four two-bedroom units. With the high demand of two-bedrooms, ownership will be able to reap the benefits of low vacancy and low unit-turnover. Value-Add - This asset presents an opportunity to add value through some combination of physical upgrades and/or additional in-unit square footage. The enhanced amount of unit square footage should allow a purchaser to increase their return on investment by converting two-bedroom units to three-bedrooms. By adding additional bedrooms new ownership has the ability to increase the monthly revenue by over 25%. Nearby New Development - The neighborhood has experienced a boon in development with plans calling for over 1,000 residential units and 1 million square feet of retail. Projects underway include the Congress Heights Town Center, St. Elizabeth's East, Terrance Manor Redevelopment, and the Wheeler Renaissance. With so many new developments in the pipeline, Congress Heights will continue to be an attractive submarket for renters.
    Listed by Ari Firoozabadi, Greysteel Company LLC

    Driving Directions

    Yeonas & Shafran Real Estate, LLC
    Yeonas & Shafran Real Estate, LLC
    Office: 703-790-3330
    1309 Vincent Pl
    McLean, VA 22101

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    More Info

    Basic Information

    • Broker NameGreysteel Company LLC
    • List Price$799,000
    • MLS NumberDCDC2003852
    • MLS Property TypeResidential Income
    • Price Per Square Foot276
    • Sale Date11/01/2021
    • StatusPEN
    • Units4
    • Vacation Rental YNN

    Location

    • Address101 Wayne Pl Se
    • Building Number101
    • CountyWashington
    • DirectionsTake I-95 S, I-495 S, Baltimore-Washington Pkwy and State Hwy 295 to S Capitol St SW in Washington. Take exit 2 from I-295 S
    • In City Limits YNY
    • Living Area SourceAssessor
    • StateDC
    • TownWashington
    • Water Oriented YNN
    • Zip20032

    Amenities

    • Accessibility Amenities2+ Access Exits
    • PoolNo Pool

    Water Body

    • Tidal Water YNN
    • Water AccessN
    • Water View YNN
    • WaterfrontN

    Tax Information

    • Assessment Year2020
    • City Town Tax3152
    • City Town Tax Payment FrequencyAnnually
    • Tax Assessment Amount399950
    • Tax Lot814
    • Tax Total Finished Sq Ft4,133
    • Tax Year2020
    • Taxes$3,152
    • Total Taxes Payment FrequencyAnnually

    Property

    • Acreage0.1
    • Lot Size SourceAssessor
    • Lot Size Square Feet4,421
    • New Construction YNN
    • Property SubTypeQuadruplex
    • ZoningRA1

    Utilities

    • Central Air YNN
    • CoolingNone
    • Cooling FuelElectric
    • Heat SystemForced Air
    • Heating FuelNatural Gas
    • Heating YNY
    • SewerPublic Septic, Public Sewer
    • Water HeaterNatural Gas
    • Water SourcePublic

    School Information

    • High School DistrictDistrict Of Columbia Public Schools
    • School District SourceListing Agent

    Parking

    • Assigned Parking Spaces
    • Parking TypesOn Street
    • Total Garage And Parking Spaces

    Basic Information

    • Date Listed07/08/2021

    Building

    • Construction MaterialsBrick
    • Fireplace YNN
    • GarageN
    • Garage Spaces
    • Num Attached Garage Spaces
    • Num Detached Garage Spaces
    • Property StyleTraditional
    • Square Feet4133
    • Structure Design TypeOther
    • Two Bedroom Units4
    • Year Built1944

    Property Information

    • Area Total4,350
    • Area Total SourceAssessor
    • Below Grade Area Total1,450
    • Below Grade Area Total SourceAssessor

    Other

    • Soil TypesUnknown

    Copyright 2021 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Yeonas & Shafran Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated October 17, 2021. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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