Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 2016 1st Street NW, DC 20001, in the Le Droit Park subdivision. This newly renovated building is situated on a .04-acre lot, amassing three levels. Zoned RF-1, this historically zoned building includes 2,859 square feet of rentable space with three separately metered three units, comprised of a one-bedroom unit, a one-bedroom unit with a den and a two bedroom unit. Each of the units have energy ef?cient HVAC systems, new high ef?ciency washer and dryers, waterless tank water heaters, new luxury laminate ?ooring, stainless steel appliances, and granite counter tops, The building has also received a complete renovation in 2023 with a new roof, new electrical wiring, and new plumbing. The units all have front and rear alley access including patio deck spaces on the second and third ?oors. There are two parking spaces with access from the alley in the rear of the building. 2016 1st Street NW is being sold vacant and TOPA free. An investor can achieve a stabilized NOI of approximately $84,081 upon stabilization. This building offers a unique opportunity for a homeowner that wants to reside in one unit and lease out the two remaining units or an investor seeking cash-?ow in this low-vacancy submarket. 2016 1st Street NW is located six blocks from the Shaw metro station, and it is centrally located between Howard University, two hospitals and walking distance to the central business district. LeDroit Park if one of Washington DC’s most af?uent neighborhoods. The average median household income is $131,694 as of 2024, which is 175% of the national average. In addition, 41% of habitants hold a Master’s Degree or higher certi?cation and 59% of the residents are between the ages of 25 and 44. Known for its Victorian Architecture, LeDroit Park has a profound history tied to Howard University, which borders the neighborhood. LeDroit Park has a consistent tenant base and is one of the highest demand rental markets in the city.