$ 1,495,000
-
$1,495,000
Price -
8
Bed -
7
Bath -
4,113
SqFt
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About the Listing EXXPR1 - 3297240
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.
Listing Highlights
Status
Active
Days on Site
8
Property Type
Multi-Family
MLS ®
DCDC2269674
Year Built
1936
Total Square Footage
4,113
Lot/Acreage
0.08
Interior Details
- Bedrooms: 8
- Bathrooms: 7 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 3208
- Below Ground Sq Ft: 905
- Basement: Partially Finished
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Zoning: RA-1
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Off Street
Financial Details
- Tax Amount: $11,316
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
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Questions About..
337 Delafield Pl NW Washington, DC 20011
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