$325,000

2014 McCulloh Street is a 3-unit apartment building in Druid Heights offering 2 one-bedroom apartments with dens and 1 one-bedroom apartment. Each apartment has in-unit laundry and central air conditioning—desirable tenant amenities that help distinguish the property from many older neighborhood rentals. Kitchens include wood cabinetry, laminate countertops, 30" gas ranges, stainless steel sinks, and garbage disposals. Bathrooms have modern vanities, steel tubs, and ceramic tile surrounds. Each apartment has its own Goodman gas furnace, gas-fired 40-gallon water heater, and 100-amp electric service. The building is served by 4 electric meters and 3 gas meters. Tenants pay their own gas and electric service, while the landlord currently pays for water and public service electric. The property is Certified Limited Lead-Free, reducing the need for recurring lead inspections and lead certification paperwork between tenant turnovers. Current rents remain below market, giving a new owner an opportunity to grow rental income over time. Druid Heights has a strong renter base, with approximately 72% of occupied housing units renter-occupied, while more than half of the neighborhood's housing stock remains single-unit homes. 2014 McCulloh Street also offers a compelling owner-occupant opportunity. With just 3.5% down, an owner occupying Apartment 2 could collect $2,400 per month from the other two apartments, leaving a projected net monthly housing cost of only $476. Ask us for more details!

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