804 & 806 N. Fayette Street

RARE BOGO!  Unique opportunity for a Piggyback townhouse;  a spacious 1 bedroom,  1 bath apartment on the ground level and a 2 level, 2 master bedroom,  2.5 bath townhouse on the upper levels.  This property was designed, approved and built as two independent units with a reinforced concrete slab in between them.  Each has separate utilities, metering, kitchens, and HVAC.  The entry to 806 is on N. Fayette Street and the entrance to 804 is from the gated brick alley in the rear.   Occupants enjoy a patio for 804 and a deck for 806.  Two onsite off-street parking spaces convey with the sale.  Conveniently located just one block to the Braddock Road METRO station, and a short walk to dining and other retail.  This piggyback unit conveys as a fee simple property, not a condominium, and the low $130 per month Home Owners' Asociation (HOA) fee covers both dwellings.  The townhouse is leased until March 31, 2022 and the apartment is on a month to month basis.  Both tenants have indicated that they would like to extend their leases.  The townhouse had a new kitchen and updated baths in 2015.  The Gross Operating Income for 2020 was $52,985.  Monthly rent for townhouse is $2655 and $1680 for the ground level apartment.

POSSIBILTIES:  keep as an income / investment property, live in one, lease the other, or use both -  live in townhouse and use flat for home office suite, or a separate residence for family members, friends, or whomever you choose.

ADU - This property features an ACCESSORY DWELLING UNIT before ADU was used in the real estate lexicon.

YOU CAN REVIEW THE 2020 EOY OPERATING STATEMENT BY CLICKING ON DOCUMENT ICON BELOW: