Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1340 21st Street NW, Washington DC, a ten-unit apartment in the Dupont Circle subdivision. This 6,025 SF three story apartment building has a Rent Control exemption and an attractive unit mix of four studio units, one one-bedroom w/ den, three one bedroom, and two two-bedroom units. The building has had significant renovations including a new roof, newer windows, upgrades to the electrical and plumbing systems, newer HVAC systems (10) and appliances and all the units were recently painted. This building has one vacant studio unit. 1340 21st Street NW provides an owner an opportunity to raise rents approximately 24% to be in line with market rate rents in Dupont Circle. Additionally, value can be added by charging utility-bill-back for water and gas service. Together, this investment opportunity allows a buyer the ability to raise the building’s net operating income by 50% in the first year. 1340 21st Street NW sits just one block away from historic Dupont Circle and two blocks away from The Dupont Circle Metro Station. The Dupont Circle submarket rental Rates are of the highest in the city and are 39% higher than the national average. Situated between Embassy Row, George Washington University, and Downtown DC, Dupont Circle offers investors the ability to capitalize on the enduring allure and potential for appreciation. This investment promises both immediate returns and long-term value in one of the nation's most sought-after urban enclaves.