419-423 Kennedy St NW - Apartments FOR SALE


Washington, DC 20011- Brightwood Park
$8,500,000 USD
301-335-8380
419-423 Kennedy St NW, Washington, DC for Sale
$8,500,000 USD
Apartments - FOR SALE
1/10
null | 8.06% Cap Rate

419-423 Kennedy St NW
Washington, DC 20011
Brightwood Park


HIGHLIGHTS

  • New Build - Sophisticated Urban Building - 75% completed
  • 32 units plus a 2500 sf commercial space
  • All units offer open floor plans with soaring ceilings and floor upward ceiling windows

OVERVIEW

We are presenting a unique acquisition opportunity that combines real estate fundamentals with immediate income stabilization and long-term upside. This 33-unit multifamily project with 10 underground parking spaces, currently approximately 75% complete, is being repositioned to include a nonprofit anchor tenant upon delivery—significantly reducing lease-up risk in a soft market (optional). Key Investment Highlights • Asking Price: $8,500,000 • Estimated Completion Cost: $3,000,000 • Total Units: 32 plus 1 commercial space (2500 sf) • Status: Vertical construction substantially completed • Market Advantage: Pre-identified nonprofit tenant at stabilization • 5% cap rate once turnkey What Makes This Opportunity So Attractive- Immediate Cash Flow Visibility (optional) - The nonprofit tenant is part of a structured, grant-funded housing and workforce development program, creating predictable occupancy and long-term tenancy. Reduced Lease-Up Risk Instead of competing in a slow conventional lease-up environment, investors benefit from a built-in demand driver tied to programmatic housing. Strong ESG & Impact Alignment Institutional and private investors increasingly prioritize assets with measurable social impact—this project checks every box: • Housing stability • Workforce development • Education access • Community revitalization Optional Long-Term Partnerships Investors may benefit from: • Master leases • Program-based rental guarantees • Public-private partnership exposure • Favorable positioning for future refinancing or disposition Attractive Exit Strategy Upon stabilization and proof of income, the asset becomes highly attractive to: • Impact funds • Workforce housing investors • Mission-driven REITs • Municipal or institutional buyers This is not just a building—it is a fully activated ecosystem designed to produce both returns and results.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$275 USD /SF

# OF UNITS

35

PRICE/UNIT

$242,857

CAP RATE

8.06%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2026

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

MU-4

APN/PARCEL ID

3260-0056

ASK ABOUT THIS PROPERTY

Sonya AbneyCosmopolitan Properties Real Estate, LLCMore Info
301-335-8380

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Sonya AbneyCosmopolitan Properties Real Estate, LLCMore Info
301-335-8380

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