1952 Calvert St. NW Washington D.C. 2009

Joseph Demeria

• For my project I chose the location of 1952 Calvert St. NW Washington D.C. 20009, a 4 story multi family dwelling unit. The property consists of three 2bed/2bath floors and one 1bed/1bath floor, for a total of 7 potential tenants.

• The exterior of the property is brick painted red and blue. The property also includes a front porch also a front yard with a traditional brick retaining wall and minimal landscaping. The interior appears to be well kept but dated from viewing pictures especially in the kitchens.

• The metro is walking distance from the property and has many amenities as well with Adams Morgan right around the corner and the National Zoo within walking distance or just a short cab ride. DuPont Circle is also very close to the location and would be a quick cab ride down Connecticut Ave. In addition to the surplus of amenities available to potential tenants, the surrounding schools such as Ross Elementary and Wilson High are within 3 miles and both hold great reputations (zillow.com).

The market listing for the property is currently $1.795M (realtor.com), and is currently generating $9,146 per month (zillow.com).

Value Add• Improvements that I would find necessary to increase property value are:

– Repaint exterior brick – Update the front porch as it is visually dated– Re-landscape the front yard– Replace both front doors on the main level and basement entry– Add new vinyl windows (Anderson)– Update interior paint in entrance hallway and stairwells– Update all kitchens with new cabinetry and appliance– Update all baths vanities, floors, shower tub surrounds– Update interior doors and trim

• A rough estimate of cost for the above improvements would be around $250,000-$300,000 for a total investment of $2,095,000 into the property.