714 Park Road NW

• Proven Value-Add: This six-unit property has five newly renovated three-bedroom units and one two-bedroom unit. The occupied three-bedroom units are rented for $3,872 per month. The remaining two-bedroom unit can easily be renovated and re-leased to gain the rental premium the other units are achieving.
• Convenient Location: The Property is conveniently located less than half a block from the shops, restaurants, and nightclubs of Park View on Georgia Avenue NW and the 11th Street NW Commercial Corridor. Downtown Petworth, 11th Street NW, and Downtown Columbia Heights are all within ½ mile.
• Off-Street Parking: This property has six private parking spaces that can be leased out to each unit. Four parking spaces are currently on SpotHero and two are rented to Zip Car for an average of $200 per month Off-street parking is hard to come by and rarely found in this neighborhood.
• Walking Distance to Two Metro Stations: Residents will benefit from direct access to both the Petworth and Columbia Heights metro stations, which provides Green/Yellow Line access throughout Washington, D.C. and Maryland.
• No Deferred Maintenance: In the last year, current ownership recently spent $250,000 renovating the property and five of the six units. New ownership is left with virtually no deferred maintenance and will benefit from reduced yearly repairs and maintenance costs.

Property Description