245-249 8th St NE - Apartments FOR SALE


Washington, DC 20002- Capitol Hill
$2,900,000 USD
202-221-8426
245-249 8th St NE, Washington, DC for Sale
$2,900,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

245-249 8th St NE
Washington, DC 20002
Capitol Hill


HIGHLIGHTS

  • RENT CONTROL EXEMPT (POST-1978 CONSTRUCTION)
  • PREMIER CAPITOL HILL LOCATION WITH TRANSFORMATIONAL GROWTH CATALYSTS
  • 90.9% VACANT - "BLANK CANVAS OPPORTUNITY"
  • SEPARATELY-METERED UTILITIES & SELF-CONTAINED UNITS
  • OFF-STREET PARKING (4 SPACES)
  • TRANSIT-ORIENTED CONNECTIVITY

OVERVIEW

BANKRUPTCY SALE Court-Approved Sale Pursuant to Chapter 11 Bankruptcy Proceedings The Property is being marketed for sale on behalf of the debtor pursuant to Chapter 11 bankruptcy proceedings, with Horvath & Tremblay retained as exclusive marketing agent and approved by the United States Bankruptcy Court for the District of Columbia. The sale will be subject to Bankruptcy Court approval, providing a transparent, court-supervised process for all qualified bidders. A sale pursuant to Chapter 11 offers several potential advantages to buyers, including: Enhanced Title Certainty: The transaction is expected to be completed free and clear of liens, claims, and encumbrances under Section 363 of the Bankruptcy Code, subject to court approval, providing buyers with a high degree of comfort regarding title. Structured and Transparent Process: The court-supervised sale process ensures clearly defined procedures, timelines, and bidding protocols, creating a level playing field for all participants. Reduced Post-Closing Risk: Court approval of the transaction can mitigate certain post-closing risks, as the sale terms and transfer are vetted and authorized through the bankruptcy process. Horvath & Tremblay is pleased to present 245–249 8th Street NE (the “Property”), a strategically located multifamily asset in the heart of Capitol Hill—one of Washington, DC’s most established and supply-constrained residential submarkets. Positioned just eight blocks east of the United States Capitol, the Property benefits from proximity to a globally significant employment center that consistently drives strong rental demand. The asset is being offered with significant physical vacancy, providing a rare opportunity for investors to execute a business plan without displacement constraints. Combined with its irreplaceable location, favorable utility structure, and exemption from Washington, DC rent control, the Property represents a compelling investment for both local and out-of-market capital seeking flexibility and long-term upside

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

11

PRICE/UNIT

$263,636

CAP RATE

Request Cap Rate

% LEASED

54%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

245-249 8th Street NE

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1987

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,477 SF

ZONING

RF-1

APN/PARCEL ID

0917-0119

ASK ABOUT THIS PROPERTY

Dennis CravediHorvath & TremblayMore Info
202-221-8426

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Dennis CravediHorvath & TremblayMore Info
202-221-8426

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