604 KENNEDY ST NW Washington, DC 20011

** Bankruptcy Sale ** Online auction to be conducted on Auctioneers website. ** List Price is Opening Bid ** Upcoming Guided Tour: Thursday, August 24th promptly at 1:00pm. ** Auction registration & bidding begins Thursday, August 24th @ 2:00pm and ends Tuesday, August 29th @ 2pm. $20,000 Deposit in order to participate in the auction and a Deposit of 10% of the Purchase Price is due from the winning Bidder within ONE BUSINESS DAY of the conclusion of the auction. Excellent opportunity to purchase a partially-leased, mixed-use commercial building comprised of 1 commercial unit and 17 residential units. The property is well-located in the heart of the "Brightwood Park" neighborhood of NW, Washington, DC, just North of "Petworth." According to the DC Office of Tax and Revenue, the property consists of 0.16 +/- acres (7,162 +/- sq. ft.) of land area with prominent road frontage along Kennedy Street, NW. It is zoned MU-4 and is served by public water, sewer, electricity and natural gas. The property is improved by a brick three-story commercial building with a basement. The property is also improved by a detached garage accessed through a rear alleyway. The building's unit mix consists of: 1 - Commercial Unit + 15 - One-bedroom Residential Units + 2 - Two-bedroom Residential Units. Based on the Rent Roll as of July 31, 2023 nine of the building's eighteen units were vacant as of that date. Gross Scheduled Monthly Rent = $10,324/month (Based on the Rent Roll as of July 31, 2023) Gross Potential Monthly Rent = $27,397/month (Based on the Rent Roll as of July 31, 2023, full occupancy and rental of the nine vacant residential units to Government Subsidized Housing tenants at monthly rents of $1,826/month for the vacant one bedroom units and $2,465/month for the vacant two bedroom unit.) Please note that the estimated monthly rents for the vacant units used for the Gross Potential Monthly Rent calculations are based on the DCHA's newly established process for determining rent reasonableness through the Market Rent Estimator found on AffordableHousing [dot] com. The two-story commercial unit is used as a Daycare Center and the tenant is on a month-to-month lease. The ground level of this unit contains a large open area and a restroom. The lower level of this unit contains a large open area, two restrooms, an office/kitchenette combo and various utility and storage closets. The commercial portion of the building is heated by a forced hot air system and cooled by a Central Air Conditioning system. The residential portion of the building has a single central gas fired hot water radiator heating system and the residential units are cooled by window a/c units. The building has a central gas fired water heater. There is one electric meter and one gas meter for the entire building. The owner pays for electric, gas and water/sewer for the entire building. There may be substantial value-add components to the property. Also, the owner successfully lowered the property's annual Real Property tax bill by over $13,000 in 2023. Diligence documents are available for review at the auctioneer's website and include: A copy of the rent roll as of July 31, 2023, Certificate of Occupancy issued by DCRA, select annual expenses for 2021, 2022, plus 6 months of 2023, copies of available leases, several documents related to the property's 2023 real property tax bill and the purchase and sale agreement including assorted addenda. There are also a large number of additional photos available for viewing. Please reach out to the Listing Agent for more information. Thank you.