Bankruptcy | 10 Unit Building in NW DC Washington, DC

Opportunity knocks! 1006 Webster Street is a vacant 10 unit apartment building located in the 16th Street Heights neighborhood. The building is approximately 12,834 square feet on 3 levels and sits on a 6,127 square foot lot. The current plan was to renovate the building into 10 large apartments with a mix of predominately 5 and 6 bedroom units and place the units in the Housing Choice Voucher Program. The projected rents are approximately $697,000 annually.  The property is zoned RF-1 and the current owner has had concept plans drawn to add a floor and convert the building to a 20 unit condominium project. All plans and projections are available on tranzon.com.

The property sits at the corner of Webster Street and Iowa Avenue NW directly across the street from McFarland Middle and Theodore Roosevelt High School and 1/2 block off of Georgia Avenue.

Please be sure to download the Property Information Package by clicking on  “Download Now”. By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.

Directions:

corner of Webster Street and Iowa Avenue NW

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Jeff Stein

Jeff Stein: Tranzon Fox

703-539-8111 jstein@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

• Buyer's Premium: 5% Buyers Premium based on the high bid.
• Closing: 60-Day closing, sold in As-Is condition, no contingencies.
• Deposit Amount: 5% deposit with a minimum deposit of $50,000 in guaranteed funds.
• Broker Co-op: 1% of the high bid will be paid to a properly registered broker at settlement.
• Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
• Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.