Rare multi-unit investment opportunity in sought after Takoma Park. 3 unit property available subject to the City of Takoma Park Opportunity to Purchase once they have a ratified contract to review. Tenants have already waived their Opportunity to Purchase. This property is subject to rent control with allowable "banked" rent of Unit 1 of $1400, Unit 2 $1074 and Unit 3 $755. Current owner has a family member living in Unit 1 paying $1114 per month but the rent can be increased to the banked rent of $1400 for the next tenant. Unit 1 lease expires September 30, 2020. Unit 2 has tenant that has lived there since 2008 and unit 3 just had a tenant move out on 4/1/20. Pictures of Unit 1 are from before current tenant moved in. Owner pays gas and water - tenants pay their own electricity. Purchase as an investment opportunity or move in to one unit and use the rental income from the other units to help pay expenses. Currently tenant occupied so 24 hour notice required to show the property.
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Listing information last updated on May 29th, 2020 at 3:20pm EDT.