Investment Overview

The Milam Group of Marcus & Millichap is pleased to present for sale the multi-family property located at 245-249 8th St NE in Washington, D.C. This property comprises 11 one-bedroom, one-bath units and two efficiency units, with each one-bedroom unit featuring its own washer and dryer for enhanced tenant convenience. It currently has a high vacancy rate, providing a prime opportunity for a buyer to reposition and significantly increase income potential. Capitol Hill, at the heart of Washington, D.C., seamlessly blends government institutions, residential neighborhoods, and commercial districts. Home to landmarks like the U.S. Capitol, Supreme Court, and Library of Congress, the area attracts professionals in government, law, and advocacy. High tenant demand and stable occupancy rates are driven by its desirable location, tenant demographics, and limited housing supply due to strict zoning laws and historic preservation efforts. These factors enable property owners to maintain premium rental rates with minimal vacancy risk. Capitol Hill’s walkability, historic architecture, and cultural vibrancy make it one of the city’s most sought-after neighborhoods. Eastern Market anchors the area with fresh produce, artisan goods, specialty foods, and a popular weekend flea market that draws visitors citywide. Nearby, Barracks Row on 8th Street SE features a dynamic culinary scene with diverse dining options, boutique shops, cafes, and local businesses. The H Street Corridor offers a mix of trendy bars, eclectic dining, music venues, and retail shops. Union Station, one of the city’s busiest transportation hubs, further enhances the area’s accessibility. With connections to Metro lines, Amtrak, and commuter trains, Union Station also houses a variety of retail stores, dining options, and services, making it a gateway to Capitol Hill.