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1848 Columbia Rd NW
Washington, DC 20009
Covington · Multifamily Property For Sale
·
21 Units
Investment Highlights
- No TOPA-Coop Owned
- Separately Metered for Gas and Electric
- Can deliver 75-80% vacant
Executive Summary
Welcome to The Convington Family Association Cooperative, a 21-unit cooperative building located in the heart of Kalorama and Adams Morgan. The building offers the excitement of chic nightlife and a ton of restaurants. Home of Tryst, The Diner and many more retail establishments. Since its inception in 2004, it has been designated for affordable housing through the Community Block Grant Program. This allowed the tenants to purchase the building. They did a major renovation in 2004 that updated the units and made them fully separately metered for gas and electricity. It has a central heating system with radiator heat and wall units that supply air conditioning. It has 2 hot water heaters that supply hot water to the entire building. The building has been well maintained over the years and has no deferred maintenance issues that are outstanding. It is situated on a 7,170sf well landscaped lot that offers a peaceful place to relax. With public transportation close by makes it a perfect place to live without having to have a car. One of the perks is that it is located close to Rock Creek Park that offers walking trails and biking paths for outdoor enthusiasts. This property is exempt from TOPA and can be delivered partially vacant.
The current Zoning is MU-5 which the Mixed-Use (MU) zones provide for mixed-use developments that permit a broad range of commercial, institutional, and multiple dwelling unit residential development at varying densities. The MU-5 Zone is a mixed-use zone that is intended to be applied throughout the city consistent with the density designation of the Comprehensive Plan. A zone may be applied to more than 1 density designation. The following are the building standards for this property:
1)Building Category
Residential
Maximum Lot Occupancy: 80%
Maximum Height: 65 feet
Maximum Stories
Floor Area Ratio: 3.5
2)Building Category
Residential (IZ)
Maximum Lot Occupancy: 80%
Maximum Height: 70 feet
Maximum Stories
Floor Area Ratio: 4.2
The current Zoning is MU-5 which the Mixed-Use (MU) zones provide for mixed-use developments that permit a broad range of commercial, institutional, and multiple dwelling unit residential development at varying densities. The MU-5 Zone is a mixed-use zone that is intended to be applied throughout the city consistent with the density designation of the Comprehensive Plan. A zone may be applied to more than 1 density designation. The following are the building standards for this property:
1)Building Category
Residential
Maximum Lot Occupancy: 80%
Maximum Height: 65 feet
Maximum Stories
Floor Area Ratio: 3.5
2)Building Category
Residential (IZ)
Maximum Lot Occupancy: 80%
Maximum Height: 70 feet
Maximum Stories
Floor Area Ratio: 4.2
Property Facts
| Price Per Unit | $672,686 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 3.67% | Lot Size | 0.17 AC |
| Sale Condition | Redevelopment Project | Building Size | 20,585 SF |
| No. Units | 21 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1912/2004 |
| Zoning | MU-5A - The current Zoning is MU-5A which the Mixed-Use. | ||
| Price Per Unit | $672,686 CAD |
| Sale Type | Investment |
| Cap Rate | 3.67% |
| Sale Condition | Redevelopment Project |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 20,585 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1912/2004 |
| Zoning | MU-5A - The current Zoning is MU-5A which the Mixed-Use. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Double Pane Windows
- Smoke Free
Site Amenities
- Laundry Facilities
- Recycling
- Storage Space
- Conference Rooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | - |
Property Taxes
| Parcel Number | 2551-0806 | Improvements Assessment | $1,929,575 CAD |
| Land Assessment | $974,351 CAD | Total Assessment | $2,903,926 CAD |
Property Taxes
Parcel Number
2551-0806
Land Assessment
$974,351 CAD
Improvements Assessment
$1,929,575 CAD
Total Assessment
$2,903,926 CAD
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