1613 Division St – 2 or 3 Unit Opportunity Sold

Druid Heights Multi Family Buy & Hold!

This is a unique opportunity to position yourself in a neighborhood that has been on the rise the past few years. Just 3 blocks east you’ll find MADISON AVE. Madison ave is what Druid Hill is striving to become. Similar beds/baths/sq ft properties are selling between $300,000-$400,000 just 2 blocks away.

This area has been forgotten about but that is changing now. 1 Block north we also have brand new construction townhomes & apartments hitting the market soon. “Marshall Gardens” new builds on Division St/Laurens St is a development project that stretches for 2 blocks that surely will help to change the narrative of this community.

Named after Thurgood Marshall, who’s residence was 1632 Division St.

Penn North/Upton development plans will completely change the look of this area within the next 5-7 years. Head northeast & southeast you’ll find yourself in the Bolton Hill/Reservoir Hill Community where retail homes sell start around $300,000+.

So what kind of rent will this property command after rehab?

3, 1 bedroom units with projected rent between $900-$1,000 a door.

$2,700-$3,000 a month gross income.

We estimate the rehab between $90,000-$120,000 to complete.