1701 E St NE - Apartments FOR SALE


Washington, DC 20002- Kingman Park
$2,800,000 USD
202-536-3742
1701 E St NE, Washington, DC for Sale
$2,800,000 USD
Apartments - FOR SALE
1/9
null | 7.11% Cap Rate

1701 E St NE
Washington, DC 20002
Kingman Park


HIGHLIGHTS

  • Relatively new construction with more recent upgrades, featuring hardwood floors, double-pane windows, and in-unit washers/dryers.
  • Six spacious three-bedroom units averaging 1,300 SF each — each unit separately metered with individual circuit panels, central A/C, water heaters, an
  • Current annual income of $292,440 and an average market rent over $4,000 per unit per month.
  • Prime Rosedale location along the rapidly redeveloping H Street and Benning Road corridor
  • Well-served by multiple bus lines and the H Street Trolley, with future growth nearby at the Hechinger Mall site with the future Washington Commanders

OVERVIEW

Marcus & Millichap is pleased to exclusively represent the owner of 1701 E Street NE, an exceptional opportunity to acquire a rarely available, turn-key six-unit apartment building in the thriving Rosedale neighborhood of Capitol Hill. Built in 2008 and offering approximately 8,088 rentable square feet on a prominent corner lot with dedicated parking, this well-maintained asset provides investors immediate in-place income with upside potential through lease-up and market rent growth. 100% occupied and all Voucher tenants. Each of the six spacious three-bedroom units averages 1,300 square feet and features separate metering, individual circuit panels, central air conditioning, water heaters, and in-unit laundry. The building includes hardwood floors, double-pane windows, and dedicated parking for residents. The current annual income is over $292,000 as a fully occupied building, representing an average market rent above $4,000 per unit per month. This asset offers an immediate opportunity to earn a 7.12% CAP rate. This REO property is ideally positioned along the rapidly redeveloping H Street and Benning Road corridors. The location benefits from strong transit connections via multiple bus lines and the H Street Trolley, with easy access across the city and a wide range of shopping and dining options. Notably, the asset is just minutes from the site of the future Washington Commanders stadium at the old RFK Stadium grounds, which is expected to further catalyze redevelopment and enhance neighborhood appeal.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$346 USD /SF

# OF UNITS

6

PRICE/UNIT

$466,667

CAP RATE

7.11%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

REO Property - A Renovated Six Unit Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2008

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

RF-1

APN/PARCEL ID

4546-0139

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 Policy.