5611-5615 7th St NW - Apartments FOR SALE


Washington, DC 20011- Brightwood Park
$1,700,000 USD
202-536-3738
5611-5615 7th St NW, Washington, DC for Sale
$1,700,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

5611-5615 7th St NW
Washington, DC 20011
Brightwood Park


HIGHLIGHTS

  • Stable Income-Producing Asset | Strong Physical & Economic Occupancy
  • Significant Upside by Converting to Voucher Tenants | Currently All Market Rate
  • Well-Maintained Asset | Recent CapEx | Minimal Deferred Maintenance
  • Strong Operating Efficiencies | Separately Metered for Electric & Gas
  • 0.5 Miles from the Petworth & Fort Totten Metrorail Stations | Red, Green, & Yellow Lines

OVERVIEW

Feldman Ruel is pleased to offer for sale 5611-5615 7th Street NW, a 10-unit multifamily property located in the Brightwood Park neighborhood of Washington, D.C. The offering provides an investor the opportunity to acquire a well maintained, cash-flowing asset in a strong rental submarket. Brightwood Park as a submarket offers investors consistent tenant demand and good operating fundamentals. The subject property consists of one building spanning three tax parcels, totaling approximately 7,850 square feet of gross building area and 7,524 square feet of lot area. The unit mix includes two one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units. Each unit is separately metered for both electric and gas which helps maintain lower operating expenses than comparable properties in the submarket. At this time there is one vacant unit and no pending evictions. Offered at $1,700,000 ($170,000 per unit), 5611-5615 7th Street NW is priced well below comparable sales in Brightwood. With stable, in-place income, below market rents, and limited capital expenditure requirements, the offering provides ample upside through rent adjustments. 5611-5615 7th Street NW is also being offered as part of a portfolio sale along with 1101–1113 19th Street NE (24 units), giving investors the flexibility to purchase one or both properties and realize immediate economies of scale within high-demand Washington, D.C. neighborhoods.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

10

PRICE/UNIT

$170,000

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,524 SF

ZONING

RF-1

APN/PARCEL ID

3206-0114,3206-0115,3206-0116

ASK ABOUT THIS PROPERTY

Christopher ChadwickFeldman RuelMore Info
202-536-3738

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Christopher ChadwickFeldman RuelMore Info
202-536-3738

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