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Multifamily

1515 Isherwood St NE

1515 Isherwood St NE, Washington, DC 20002

Listing Price: $840,000

Cap Rate
4.17%
Number of Units
4
GRM
6.44
Occupancy
99.0%
Price/Unit
$210,000

Investment Overview

Marcus & Millichap is pleased to exclusively present 1515 Isherwood St NE, Washington, DC, a prime investment opportunity featuring a four-unit apartment building. Nestled in the Old City 1 subdivision, this property enjoys the location near the vibrant H Street Corridor, Ivy City, and Union Market, offering residents both convenience and charm. Spanning 3,270 square feet on a 0.07-acre parcel, the building comprises of two, two-bedroom/one-bath units and two, one-bedroom/one-bath units, with two units recently renovated. Recent updates include new flooring, two new water heaters, and an updated roof in 2021. The property also benefits from ample street parking, adding to its attractiveness for tenants. Currently, two units are occupied by voucher tenants, with the DC government paying $2,637 per month for each unit. The owner covers the utilities. The remaining units present an excellent opportunity for immediate lease-up, projecting a potential CAP rate of over 10 percent once fully occupied. Situated at 1515 Isherwood St NE, Washington, DC 20002, the property boasts excellent connectivity. The closest metro stations, Stadium-Armory (Blue, Orange and Silver lines) and Minnesota Ave (Orange line), along with multiple WMATA bus routes, provide seamless access throughout the city. The neighborhood is pedestrian-friendly, with well-maintained sidewalks and crosswalks facilitating easy walking updated property with strong income potential in a thriving Washington, DC neighborhood.

Investment Highlights

  • An Attractive Unit Mix of 4 - Two One Bedroom/One Bath and Two Two Bedroom/One Bath Units
  • Recent Updates Include New Flooring, Two New Water Heaters, and an Updated Roof
  • Two Voucher Tenants and Two Vacant Units
  • All Units are Seperately Metered
  • Opportunity to get a 10% + Cap Rate once Stablized

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Multifamily

1515 Isherwood St NE

Listing Price: $840,000

Cap Rate
4.17%
Number of Units
4
GRM
6.44
Occupancy
99.0%
Price/Unit
$210,000

Investment Highlights

  • An Attractive Unit Mix of 4 - Two One Bedroom/One Bath and Two Two Bedroom/One Bath Units
  • Recent Updates Include New Flooring, Two New Water Heaters, and an Updated Roof
  • Two Voucher Tenants and Two Vacant Units
  • All Units are Seperately Metered
  • Opportunity to get a 10% + Cap Rate once Stablized

Investment Overview

Marcus & Millichap is pleased to exclusively present 1515 Isherwood St NE, Washington, DC, a prime investment opportunity featuring a four-unit apartment building. Nestled in the Old City 1 subdivision, this property enjoys the location near the vibrant H Street Corridor, Ivy City, and Union Market, offering residents both convenience and charm. Spanning 3,270 square feet on a 0.07-acre parcel, the building comprises of two, two-bedroom/one-bath units and two, one-bedroom/one-bath units, with two units recently renovated. Recent updates include new flooring, two new water heaters, and an updated roof in 2021. The property also benefits from ample street parking, adding to its attractiveness for tenants. Currently, two units are occupied by voucher tenants, with the DC government paying $2,637 per month for each unit. The owner covers the utilities. The remaining units present an excellent opportunity for immediate lease-up, projecting a potential CAP rate of over 10 percent once fully occupied. Situated at 1515 Isherwood St NE, Washington, DC 20002, the property boasts excellent connectivity. The closest metro stations, Stadium-Armory (Blue, Orange and Silver lines) and Minnesota Ave (Orange line), along with multiple WMATA bus routes, provide seamless access throughout the city. The neighborhood is pedestrian-friendly, with well-maintained sidewalks and crosswalks facilitating easy walking updated property with strong income potential in a thriving Washington, DC neighborhood.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

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