1001 Rhode Island Ave NE - Apartments FOR SALE


Washington, DC 20018- Brentwood DC
$7,250,000 USD
571-223-9775
1001 Rhode Island Ave NE, Washington, DC for Sale
$7,250,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

1001 Rhode Island Ave NE
Washington, DC 20018
Brentwood DC


OVERVIEW

Incredible opportunity for investor to take ownership of a newly built 18-unit condominium building on Rhode Island Ave in Northeast DC. This sleek, modern building in Brentwood offers secure entry and elevator service to four floors of residential units, plus a rooftop party suite with a full kitchen, bathroom, and exterior rooftop terrace access. The units themselves are light, bright, and spacious, featuring high ceilings, upgraded lighting and plumbing fixtures, open floor plans, plenty of windows in every room, and LVP flooring throughout. The kitchens sparkle with upgraded countertops and stainless-steel appliances. The 18 units include a mix of three 1 BR 1 BA, three 2 BR 1 BA, eleven 2 BR 2 BA, and one 2 BR, 2.5 BA units. The sizes vary from 600 SF up to 1,410 SF, with most being 800-900 SF. Located near the Rhode Island Ave/Brentwood Metro station, with shopping, dining, and entertainment options in every direction, with anchor stores like Giant and Home Depot nearby. The rear parking lot offers residents the convenience of private parking. NOTE: This is a short sale, and the sale is subject to bankruptcy court approval. The entire building is being offering for sale, not the individual condos. The total building is estimated to be 18,000 SF but is not reflected on tax records yet, which show previous building size. The new owner will then have the opportunity to sell the individual units at market prices or convert the use to a multifamily property.

FOR SALE DETAILS

PRICE

$7,250,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

18

PRICE/UNIT

$402,778

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Riane

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2025

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

MU4

APN/PARCEL ID

3870-0058

ASK ABOUT THIS PROPERTY

Stephanie YoungCentury 21 Commercial New MillenniumMore Info
571-223-9775

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Stephanie YoungCentury 21 Commercial New MillenniumMore Info
571-223-9775

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.