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Recommending a Strategy

This prime investment property located at 101 5th St NE, Washington, DC, is listed for $1,795,000. It features a vacant hotel with excellent development potential, zoned R4. The plan includes converting 10 hotel rooms into individual apartment units, enhancing facilities with modern kitchens and bathrooms. With a lot size of 0.03 AC, this economy-limited service property presents an attractive opportunity for generating income in a thriving market. Explore the possibilities for a profitable transformation in a desirable location.

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Recommending a Strategy

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  1. Recommendinga Strategy 101 5th St NE Washington, DC 20002-5935

  2. Vision

  3. Today’s Situation 101 5th St NE: VACANT List Price: $1,795,000 Property Type: Hotel & Motel Property Sub-type: Economy/ Limited ServiceProperty Use Type: Investment Lot Size: 0.03 AC Zoning Description: R4

  4. Development Plans: Convert 10 hotel rooms into 10 individual apartment units • Add 9 top of the line kitchens • Update one existing kitchen • Update 8 bathrooms • Add 2 full bathrooms • Convert 10 bedrooms into 10 individual apartment units

  5. Revenue & Expenses

  6. Net Income

  7. Equipment 2 Computers ($2,000 each) = $4,000 1 Printer ($200) = $200 Office Supplies = $500 Total: $4,700

  8. Accounting Categorization Year 1 Year 2 Land 320,960 -Building 1,474,040 -Improvements (to building) $53,223.02 -Equipment (including computers) $4,700 -Furniture & Fixtures $30,259.82 -Office (for the company’s office costs) $12,000 12,000Vehicles $35,000 -Other Assets (if any) - -

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