Deal of the Week: Two Units For the Price of One

• May 1, 2012
• 1 Comment

by UrbanTurf Staff

1638 6th Street NW. Courtesy of Google Maps.

Live in one unit, rent another out. It seems to be what a lot of UrbanTurf readers want to do these days. This installment of Deal of the Week allows for that option.

While not in the best shape, at least cosmetically, this two-unit property on 6th Street in Shaw consists of a two-bedroom, 1.5-bath apartment on the upper level with a kitchen that needs to be renovated, and a one-bedroom, one-bath unit on the lower level. Both units are occupied, but the tenants have waived their right to sell and agreed to move out when the property is purchased.

The downside to this row house is that it needs “a lot of cosmetic work inside”, according to the listing agent, perhaps the main reason it is priced where it is. Still, both investors and owner occupants have shown interest and the property had 13 showings on Monday.

More details below.

• Address: 1638 6th Street NW (map)
• Price: $399,000
• Bedrooms: Three
• Bathrooms: 2.5
• Year Built: 1900
• Listing Agent: Andrew Adler, TTR Sotheby’s International Realty

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4 percent.

• Loan Amount: $319,200
• Principal and Interest: $1,524
• Property Taxes: $295/month
• Total Monthly Payments: $1,819

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_two_units_for_the_price_of_one/5479

1 Comment

1. jg said at 4:10 am on Wednesday May 2, 2012:
   You can't have a 2 unit zoned R-4 unless there is a previous certificate of occupancy. This rowhouse is illegally rented as 2 unit now, and since DCRA requires: "conversions of existing buildings to apartments are permitted for lots with a minimum lot area of 900 square feet per dwelling unit. Rear yard requirement is twenty (20) feet" it means it would be impossible to convert to legal 2 unit.