1300 Congress St SE - Apartments FOR SALE


Washington, DC 20032- Congress Heights
$1,750,000 USD
240-475-1138
1300 Congress St SE, Washington, DC for Sale
$1,750,000 USD
Apartments - FOR SALE
1/11
null | 8.87% Cap Rate

1300 Congress St SE
Washington, DC 20032
Congress Heights


HIGHLIGHTS

  • 14-Unit Multifamily Property Situated on a 0.16-Acre Parcel in Washington, D.C.
  • Attractive In-Place Returns with a Projected Year 1 CAP Rate of 8.87%
  • Value-Add Upside Through Lease-Up of Vacant Units and Rent Optimization
  • Substantial Renovation in 2011, and an Efficient Unit Mix Comprised Primarily of 2-Bedroom / 1-Bathroom Apartments, and 1BR and 3BR Units
  • Affordable Housing Profile Supporting Long-Term Tenant Demand
  • Well-Suited for Both Local and 1031 Exchange Investors Seeking Yield and Growth

OVERVIEW

Marcus & Millichap is pleased to exclusively present 1300 Congress Street Apartments, a 14-unit multifamily investment opportunity located at 1300 Congress Street SE, Washington, DC 20032. The property is situated on a 0.16-acre parcel in Southeast Washington, D.C., within an established residential corridor that continues to attract investor interest due to affordability, improving fundamentals, and proximity to major employment centers. Originally constructed in 1954 and substantially renovated, in 2011, the asset consists of an efficient unit mix primarily comprised of 2-bedroom / 1-bathroom apartments, complemented by 1-bedroom and 3-bedroom units, providing flexibility in catering to a broad tenant base. With an average unit size of approximately 667 square feet and a current occupancy of 72%, the property demonstrates in-place income with a clear path to stabilization and value enhancement. This opportunity is well-suited for both local investors and 1031 exchange buyers seeking durable yield with growth potential in a supply-constrained urban market. This offering delivers strong in-place and projected returns, supported by a projected Year 1 CAP Rate of 8.87% and a Year 1 NOI of $155,287. Current rents remain below market levels, presenting a clear value-add opportunity through lease-up of vacant units and gradual rent optimization, while maintaining affordability for the submarket. Located near Alabama Avenue SE, I-295, and multiple Metrobus routes, the property offers convenient access to Downtown Washington, D.C., Joint Base Anacostia-Bolling, and Prince George’s County. Nearby retail, schools, and neighborhood services further enhance tenant demand and long-term rental stability. 1300 Congress Street Apartments represents a compelling opportunity to acquire a well-located, small-scale multifamily asset with attractive yield, operational upside, and long-term appreciation potential in one of Southeast D.C's steadily evolving residential neighborhoods.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$187 USD /SF

# OF UNITS

14

PRICE/UNIT

$125,000

CAP RATE

8.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A Renovated 14 Unit Apartment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1954

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

RA-1

APN/PARCEL ID

5915-0012

ASK ABOUT THIS PROPERTY

Paul SeniorMarcus & MillichapMore Info
240-475-1138

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Paul SeniorMarcus & MillichapMore Info
240-475-1138

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