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Listed by NWABUEZE OKWODU • Samson Properties

$599,000

Est. payment - /mo

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2,800 SqFt

Active

16 GALVESTON PL SW Washington, DC 20032

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Key Details

Property Type Multi-Family

Sub Type Twin/Semi-Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,800 sqft

Price per Sqft $213

MLS Listing ID DCDC2269264

Style Other

Abv Grd Liv Area 2,800

Year Built 1944

Annual Tax Amount $6,192

Tax Year 2025

Lot Size 5,008 Sqft

Acres 0.11

Property Sub-Type Twin/Semi-Detached

Source BRIGHT

Property Description

Rare opportunity to acquire a 3-unit property with a low 2.375% FHA assumable loan, originally originated in December 2021 with a maturity date of January 2052. With today's higher interest rate environment, this assumable financing may offer significant long-term savings compared to obtaining a new loan.

This property presents a strong house-hacking opportunity for an owner-occupant. A buyer may choose to live in the spacious 3-bedroom unit while using rental income from the two additional 2-bedroom units to help offset the monthly mortgage payment. With a current total PITI of approximately $4,121.45, this setup is ideal for buyers looking to reduce out-of-pocket housing costs while building long-term equity.

Investors and owner-occupants may also explore potential rental strategies, including market-rate rentals or participation in the DC voucher program, subject to all applicable rules, licensing, and buyer due diligence.

Property is being sold strictly AS-IS. Asking price reflects the approximate current loan balance. Buyer is responsible for 100% of closing costs and all broker fees.

To the seller's best knowledge, the existing FHA loan may be assumable; however, buyer is solely responsible for verifying loan assumption eligibility, lender requirements, terms, timelines, and approval process. Buyer must also complete all due diligence regarding the Certificate of Occupancy, Basic Business License, rental compliance, zoning, and any applicable regulatory requirements. Seller and listing agent make no representations or guarantees regarding future rental income, financing approval, or regulatory compliance.

Location

State DC

County Washington

Zoning R-2

Interior

Hot Water Electric

Heating Heat Pump(s)

Cooling Central A/C

Fireplace N

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Other

Above Ground Finished SqFt 2800

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District District Of Columbia Public Schools

Others

Tax ID 6239/S/0027

Ownership Fee Simple

SqFt Source 2800

Acceptable Financing Assumption

Listing Terms Assumption

Financing Assumption

Special Listing Condition Standard

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16 GALVESTON PL SW Washington, DC 20032

DC Homes Guide

Key Details

Location

Interior

Exterior

Building

Schools

Others

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16 GALVESTON PL SW