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116 Emerson Street NW, Washington, DC 20011
$1,400,000
116 Emerson Street NW, Washington, DC 20011View this property at 116 Emerson Street NW, Washington, DC 20011
116 Emerson Street NWWashingtonDC20011
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Property Description
Online auction to be conducted on Auctioneers website! Online Only Auction: Bidding Begins Saturday, October 7th and ends Thursday, October 12, 2023 at 2:00 PM. **Update 10/11/2023 @ 4:30PM EDT. Auctioneer made contact with the property manager and got updated information pertaining to rental amounts and copies of the leases. The information below and the documents section of the website have been updated. Please review!** Excellent opportunity to purchase a partially-leased, 4 unit apartment building. The property is well-located in the heart of the "Petworth" neighborhood of NW, Washington. Unit 1 is vacant and is ideal for an owner occupant. Alternatively an investor can lease the vacant unit which has been turned over since the last occupant. According to the DC Office of Tax and Revenue, the property is 4,016 +/- sq. ft. of land area. It is zoned RA-1 and is served by public water, sewer, gas and electric. The property is improved by a two-story multi family building. According to the Real Property Assessment Division of the DC Office of Tax and Revenue the building has a total square footage of 3,440+/- sq. ft. The property was gut renovated in 2020. The building's unit mix consists of four, 3 bedroom, 1 bath units. Based on the Rent Roll as of October, 2023, three of the building's four units are occupied. Unit 1: Vacant Unit 2: Currently rented for $3,342/month Unit 3: Currently rented for $3,342/month Unit 4: Currently rented for $3,342/month Tenants in units 2, 3 and 4 are leased through a District of Columbia Housing Authority program. The landlord pays for all utilities. Leases are available in the documents section of the bidding platform. Gross Scheduled Monthly Rent = $10,026/month (Based on the Rent Roll as of September, 2023) Gross Scheduled Annual Rent = $120,312/year (Based on the Rent Roll as of September, 2023) Gross Potential Monthly Rent = $13,368/month (Based on unit 1 renting for $3,342) Gross Potential Annual Rent = $160,416/year (Based on unit 1 renting for $3,342) All units are self contained with "Condo Quality" amenities including electric meter, water heater, gas meter, central HVAC, parking spot and patio/deck. Note: The assignor is selling a contract of sale for 116 Emerson St. NW. Washington, DC 20011 that they entered into via a bankruptcy sale. The bankruptcy plan calls for the transaction to be exempt from TOPA requirements and tenants right of first refusal. Also, the plan calls for the sale not to be subject to transfer and recordation taxes. The property will be sold free and clear of all monetary liens. A judge of proper jurisdiction has confirmed the bankruptcy plan.
Full Property Details
Full Property Details for 116 Emerson St NW
General
- Sold For: $1,400,000
- Taxes: $6,754 (2022)
- Status: Closed
- Type: Multi-Family
- MLS ID: DCDC2112140
- Added to Site: 244 day(s) ago
Interior
- Number of Rooms: 12
Parking
- Parking Type: Off Street
Location
- County: Washington
- Development Name: Petworth
- Subdivision: Petworth
- Driving Directions: New Hampshire Ave NW to Emerson St NW
- City Limits: Yes
School Information
- School District: District Of Columbia Public Schools
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Central
- Heating Fuel: Natural Gas
- Water Heater: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Info: Traditional
- Architectural Style: Traditional
- Structure Type: End of Row/Townhouse
- Construction: Brick
- Foundation: Other
- Stories/Levels: 2
- Square Feet: 2,800
- Sq. Ft. Source: Assessor
- Living Area: 2,800 Sq. Ft.
- Year Built: 1935
- Year Built Source: Assessor
Unit Information
- 3 Bedroom Units: 3
Lot Features
- Lot Size (Acres): 0.09
- Lot Size (Sq. Ft.): 4,016
- Lot Size Source: Assessor
- Zoning: RA-1
Financial Considerations
- Price Per Sq. Ft.: $267.86
- Assessment Year: 2022
- City/TownTax: $6,754
- City/TownTax Freq: Annually
- County Tax Freq: Annually
- Tax w/Assessment: $883,080
- Tax Amount: $6,754
- Tax Year: 2022
- Terms: Auction
- Tax Total Finished Sq. Ft.: 2800
Disclosures and Reports
- Buyer’s Brokerage Compensation: 1%
- Ownership: Fee Simple
- Lot Number: 5
Listed by Alex Cooper Auctioneers, Inc., Matthew S Cooper
Sold by KW Metro Center, Deresse Harris
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Schools
Schools serving 116 Emerson St NW
School District:District Of Columbia Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
430 Decatur St Nw, Washington, DC 20011 | PK-5 | 0.3 mi | |
4400 Iowa Ave Nw, Washington, DC 20011 | 6-8 | 0.9 mi | |
4301 13th St Nw, Washington, DC 20011 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 116 Emerson St NW
Date
Details
Price
Change
Source
12/27/2023
Sold
$1,400,000
86.67%
MLS
9/15/2023
Listed
$750,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
116 Emerson Street NW, Washington, DC 20011 (MLS# DCDC2112140) is a Multi-Family property that was sold at $1,400,000 on December 27, 2023. Want to learn more about 116 Emerson Street NW? Do you have questions about finding other Multi-Family real estate for sale in Washington? You can browse all Washington real estate or contact a Coldwell Banker agent to request more information.