16 Galveston Pl Sw, Washington, DC 20032

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.