Investment Overview

Marcus & Millichap is pleased to present for sale the multifamily property located at 1810 I Street NE in the Trinidad NE corridor of Washington, D.C. This 14-unit apartment building is a newly constructed, three-story property situated on a 0.09-acre lot, with select units featuring private balcony access. Each of the 14 units feature condo-level finishes, including granite countertops, stainless steel appliances, custom cabinetry, and more. The property also offers three parking spaces for tenants. The building includes high-end amenities, such as quartz countertops, gas stoves, Samsung washer/dryers in every unit, Hardi Board and stucco exterior, and a TPO roof. Additionally, 14 condo deeds have been completed and require only filing by the new owner. Construction of this modern development was completed in 2024. The Trinidad NE corridor is an evolving and thriving neighborhood known for its mix of new residential developments and a variety of local businesses, including cafes, retailers, and international eateries. The property is ideally located one mile from Union Market, a premier dining and shopping destination, and is within walking distance of Hechinger Mall, which is set to be redeveloped into 2.4 million square feet of mixed-use space. Currently, 10 of the 14 units are occupied, generating an annual income of $307,550 and operating at a 7.12 percent cap rate. Once fully leased, the property is projected to achieve a net operating income (NOI) of $318,076, increasing the cap rate to 7.36 percent. Additionally, this investment offers a compelling five-year levered return of 15.76 percent, making it particularly attractive in today’s market. Future appreciation potential, driven by the area’s ongoing revitalization, further enhances the investment’s long-term value. 1810 I Street NE presents a rare opportunity for investors to acquire a strategically positioned asset with both immediate income upside and substantial long-term growth potential in one of Washington, D.C.’s most sought-after neighborhoods.