1027 Euclid Street NW

Description

Solid Columbia Heights rowhouse with income-producing English basement & off-street parking! Extra buildable alley lots and additional garage parking may be negotiated separately for buyers looking to create something unique.Welcome to this stunning 3-bedroom, 2.5-bathroom home across 2 legal units and three floors in the heart of Columbia Heights"a perfect blend of classic charm and modern upgrades! Step inside to find wood floors, updated lighting, a stylish kitchen with stainless steel appliances and a functional layout ideal for cooking and entertaining.Enjoy your morning coffee on the inviting front porch or host friends in your private outdoor space. Need parking? This home offers TWO off-street parking spaces!Living dining, kitchen and powder room on main level then two generous size bedrooms, a den office that is currently being used as a full-size laundry room and a full bath.Best of all, this property includes a separately metered 1-bedroom, 1-bathroom English basement, perfect for rental income, a guest suite, or separate professional home office.With easy access to Metro, restaurants, parks, and shopping, this home is an absolute gem. Dont miss your chance to own in one of D.C.s most vibrant neighborhoods!As an investment property, the below pro forma is available based on market rate rental income.IncomeUpper Unit Rental Income: $3,500 per month ($42,000 per year)Basement Unit Rental Income (Furnished): $1,800 per month ($21,600 per year)Total Gross Rental Income: $63,600 per yearOperating ExpensesProperty Insurance: $1,520 per yearProperty Taxes: $7,000 per yearTotal Operating Expenses: $8,520 per yearNet Operating Income (NOI)Gross Rental Income - Operating Expenses$63,600 - $8,520 = $55,080 per yearCapitalization Rate (Cap Rate)NOI / Asking Price$55,080 / $900,000 = 6.12%This investment property presents a 6.12% cap rate, making it a strong contender for an owner occupant or investors looking for rental income in a desirable location.