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Multifamily

Renovated Six Unit Apartment - Washington DC

1701 E St NE, Washington, DC 20002

Listing Price: $2,650,000

Cap Rate
7.48%
Number of Units
6
GRM
9.05
Occupancy
97.0%
Price/Unit
$441,667
Price/Gross SF
$327.65
Gross SF
8,088

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1701 E Street NE, an exceptional opportunity to acquire a rarely available, turn-key six-unit apartment building in the thriving Rosedale neighborhood of Capitol Hill. Built in 2008 and offering approximately 8,088 rentable square feet on a prominent corner lot with dedicated parking, this well-maintained asset provides investors immediate in-place income with upside potential through lease-up and market rent growth.

Each of the six spacious three-bedroom units averages 1,300 square feet and features separate metering, individual circuit panels, central air conditioning, water heaters, and in-unit laundry. The building includes hardwood floors, double-pane windows, and dedicated parking for residents. The current annual income is over $292,000 as a fully occupied building, representing an average market rent above $4,000 per unit per month.

This REO property is ideally positioned along the rapidly redeveloping H Street and Benning Road corridors. The location benefits from strong transit connections via multiple bus lines and the H Street Trolley, with easy access across the city and a wide range of shopping and dining options. Notably, the asset is just minutes from the site of the future Washington Commanders stadium at the old RFK Stadium grounds, which is expected to further catalyze redevelopment and enhance neighborhood appeal.

Investment Highlights

  • Turn-Key Asset: Relatively New Construction with More Recent Upgrades, Featuring Hardwood Floors, Double-Pane Windows, and In-Unit Washers/Dryers
  • Generous Unit Mix: Six Spacious Three-Bedroom Units Averaging 1,300 SF Each-Each Unit Separately Metered with Individual Circuit Panels, Central A/C, Water Heaters, and Dedicated Parking. Fully Occupy
  • Strong In-Place Cash Flow: Current Annual Income of $292,440 and an Average Market Rent Over $4,000 per Unit per Month
  • High Demand Location: Prime Rosedale Location Along the Rapidly Redeveloping H Street and Benning Road Corridor
  • Excellent Transit Options: Well-Served by Multiple Bus Lines and the H Street Trolley, with Future Growth Nearby at the Hechinger Mall Site with the Future Washington Commanders Stadium a Few Minutes Away.
  • High Walkability & Bikeability: Boasting an 86 Walk Score and 99 Bike Score, Supporting Strong Tenant Demand.

Exclusively Listed By

  • Lorenzo M. Wooten, CCIM

    Senior Director Investments

    (202) 536-3742

    Email Lorenzo

    License(s): MD: 629911, DC: SP98367898

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Managing Director / Market Leader

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

Multifamily

Renovated Six Unit Apartment - Washington DC

Listing Price: $2,650,000

Cap Rate
7.48%
Number of Units
6
GRM
9.05
Occupancy
97.0%
Price/Unit
$441,667
Price/Gross SF
$327.65
Gross SF
8,088

Investment Highlights

  • Turn-Key Asset: Relatively New Construction with More Recent Upgrades, Featuring Hardwood Floors, Double-Pane Windows, and In-Unit Washers/Dryers
  • Generous Unit Mix: Six Spacious Three-Bedroom Units Averaging 1,300 SF Each-Each Unit Separately Metered with Individual Circuit Panels, Central A/C, Water Heaters, and Dedicated Parking. Fully Occupy
  • Strong In-Place Cash Flow: Current Annual Income of $292,440 and an Average Market Rent Over $4,000 per Unit per Month
  • High Demand Location: Prime Rosedale Location Along the Rapidly Redeveloping H Street and Benning Road Corridor
  • Excellent Transit Options: Well-Served by Multiple Bus Lines and the H Street Trolley, with Future Growth Nearby at the Hechinger Mall Site with the Future Washington Commanders Stadium a Few Minutes Away.
  • High Walkability & Bikeability: Boasting an 86 Walk Score and 99 Bike Score, Supporting Strong Tenant Demand.

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1701 E Street NE, an exceptional opportunity to acquire a rarely available, turn-key six-unit apartment building in the thriving Rosedale neighborhood of Capitol Hill. Built in 2008 and offering approximately 8,088 rentable square feet on a prominent corner lot with dedicated parking, this well-maintained asset provides investors immediate in-place income with upside potential through lease-up and market rent growth. Each of the six spacious three-bedroom units averages 1,300 square feet and features separate metering, individual circuit panels, central air conditioning, water heaters, and in-unit laundry. The building includes hardwood floors, double-pane windows, and dedicated parking for residents. The current annual income is over $292,000 as a fully occupied building, representing an average market rent above $4,000 per unit per month. This REO property is ideally positioned along the rapidly redeveloping H Street and Benning Road corridors. The location benefits from strong transit connections via multiple bus lines and the H Street Trolley, with easy access across the city and a wide range of shopping and dining options. Notably, the asset is just minutes from the site of the future Washington Commanders stadium at the old RFK Stadium grounds, which is expected to further catalyze redevelopment and enhance neighborhood appeal.

Exclusively Listed By

  • Lorenzo M. Wooten, CCIM

    Senior Director Investments

    (202) 536-3742

    Email Lorenzo

    License(s): MD: 629911, DC: SP98367898

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Managing Director / Market Leader

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

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