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Sep 30, 2015 9:44 AM ET

Archived: 4-Unit DC Suburb Acquisition: 3555 16th Street NW, Washington, DC

iCrowdNewswire - Sep 30, 2015

4-Unit DC Suburb Acquisition

Investment Summary

This is a prefunded purchase only opportunity for a Multi-Family Residential property in DC. The subject property address is 3555 16th Street NW, Washington, DC.

The developer is requesting a loan of $634,000 in order to purchase the underlying property. The property was purchased for a total of $845,000 in September of 2015. The borrower will receive 1 draw(s) totaling $634,000 at closing of the underlying loan. The borrower plans to refinance in one year or under with a construction loan, to convert the four apartments into four condo units.

3555 16th Street NW

  • Purchase Price: $845,000
  • As-Is Value: $1,100,000

An independent third party BPO commissioned by Patch of Land, shows an As-Is Value of $1,100,000. The LTV ratio is 57.6% and is in line with the data we found during our due diligence process. Our research shows the residential market surrounding the underlying property in this area of Washington is stable and supply and demand are in balance.

Property Overview

3555 16th Street NW was built in 1925, located in the suburban neighborhood of Washington, DC. The property has 4 units, comprised of 14 rooms including 6 bedrooms and 5 bathrooms, with a gross living area of 2,970 sq. ft. on a 1,183 sq. ft. lot. The property is near Piney Branch Park, Smithsonian National Zoological Park, shopping centers and recreation.


3555 16th Street NW

There is no renovation needed for the property.


Contact Information:

3555 16th Street NW LLC

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