1631 6th St NW - Apartments FOR SALE


Washington, DC 20001- Shaw
$2,750,000 USD
202-536-3742
1631 6th St NW, Washington, DC for Sale
$2,750,000 USD
Apartments - FOR SALE
1/8
null | 6.95% Cap Rate

1631 6th St NW
Washington, DC 20001
Shaw


HIGHLIGHTS

  • Turnkey 12-Unit Multifamily Asset with Modern Finishes and Minimal Near-Term Capital Requirements
  • 100% Occupied with Strong In-Place Income with a 6.62 Percent Cap Rate, Providing Immediate, Stable Cash Flow
  • Projected Year One Cap Rate of 6.95%
  • Boutique Asset with Highly Desirable Unit Mix of Six - 1BR/1BA Units, Five 2BR/1 BA Units and One 2 BR/2 BA Unit
  • Transit-Oriented Positioning with Access to Three Metro Lines Less than Seven Blocks Away

OVERVIEW

Marcus & Millichap is pleased to exclusively present 1631 6th Street NW, a 12-unit multifamily investment opportunity located in the highly desirable Shaw neighborhood of Northwest Washington, D.C. Built in 1954 and fully renovated in 2018, this asset offers investors a rare opportunity to acquire a well maintained multifamily building with strong in-place income, minimal deferred maintenance, and continued rental upside in one of the District’s most dynamic submarkets. The property consists of 12 well-designed residential units featuring a mix of one-bedroom and two-bedroom layouts, with an average unit size of approximately 548 square feet for the one-bedroom and 680 square feet for the two-bedroom. The building encompasses approximately 8,974 rentable square feet and sits on a 0.12-acre lot. Units are thoughtfully designed to appeal to today’s urban renter, supporting strong occupancy and consistent rental demand. 1631 6th Street NW is currently generating $273,000 in gross rental income, equating to a 6.62 Percent CAP rate. Through modest rent increases to align with market levels, an investor can achieve a projected gross rental income of $284,898 with a 6.95 Percent CAP rate in one year with moderate rental increases. This asset is separately metered whereby the tenants pay for gas and electric, and the owner pays the water expenses. There is also additional income earned from the two off-street parking spaces. Strategically located in the Shaw neighborhood, the property offers residents immediate access to a vibrant mix of retail, dining, and entertainment options along 14th Street NW and U Street Corridor. The property is located three blocks from Shaw-Howard U. metro, and five blocks from the Mount Vernon Square metro, providing connectivity to major employment hubs throughout Washington, D.C. This strong transit orientation, combined with continued neighborhood investment and limited new supply of comparable boutique assets, supports long-term rental growth and asset appreciation.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$373 USD /SF

# OF UNITS

12

PRICE/UNIT

$229,167

CAP RATE

6.95%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A Renovated 12 Unit Apartment - 100% Occupied

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1954

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,336 SF

ZONING

RF-1

APN/PARCEL ID

0477-0807,0477-0808

ASK ABOUT THIS PROPERTY

Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

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Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

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