Multifamily
NoSHA
2220 11th St North West, Washington, DC 20001
Listing Price: $18,500,000
Cap Rate
4.14%
Number of Units
60
GRM
12.69
Occupancy
90.0%
Price/Unit
$308,333
Price/Gross SF
$527.73
Gross SF
35,056
Investment Overview
60-UNIT BOUTIQUE APARTMENT COMMUNITY DELIVERED IN 2023 IN THE HEART OF WASHINGTON D.C.’S SHAW AND 14TH & U STREET CORRIDOR
NoSHA
Investment Highlights
- MARKET-TO-MARKET OPPORTUNITY - Units offer a new-construction living experience that supports a clear opportunity to capture rental pricing of similar unit types in the submarket
- TRANSIT-ORIENTED URBAN LIVING - Two blocks to Whole Foods, and ~three blocks to U Street Metro (Green/Yellow Lines) with direct access to Howard University (0.2 miles), Downtown D.C., and the CBD
- STRONG DEMOGRAPHICS & PRICING ADVANTAGE - Surrounding submarket supported by ~$140K+ median household incomes, with rents positioned at a meaningful discount to larger Class A new construction
- BEST-IN-CLASS BOUTIQUE AMENITIES - Luxurious amenity package includes a high-end lobby, fitness center, rooftop lounge/study with catering kitchen, and two rooftop terraces with monument and skyline views, along with Amazon Hub package lockers, refrigerated grocery storage, bike and resident storage, and Latch-controlled access and unit entry
- DURABLE, HIGH-QUALITY, AWARD-WINNING CONSTRUCTION - Concrete and steel construction—rare for boutique multifamily—developed with The FORTIS Companies and designed by Eric Colbert & Associates. Enhanced sound attenuation, including mass-loaded vinyl in all demising walls, supports superior resident experience and long-term durability. Awarded NAIOP DC|MD's 2024 Best Multifamily Project in Washington, D.C.
- FAVORABLE REGULATORY ENVIRONMENT - Washington, D.C. remains a premier gateway market with durable demand drivers and constrained new multifamily supply, supporting above-trend rent growth over the coming years. In addition, the RENTAL Act of 2025 (D.C. Law 26-80) provides improved regulatory clarity and NoSHA benefits from the Act's new-building TOPA exemption, enhancing operational flexibility and investment certainty
Broker of Record
-
Brian Hosey
Senior Managing Director, Market Leader- Mid-Atlantic
Listing Price: $18,500,000
Cap Rate
4.14%
Number of Units
60
GRM
12.69
Occupancy
90.0%
Price/Unit
$308,333
Price/Gross SF
$527.73
Gross SF
35,056
Investment Highlights
- MARKET-TO-MARKET OPPORTUNITY - Units offer a new-construction living experience that supports a clear opportunity to capture rental pricing of similar unit types in the submarket
- TRANSIT-ORIENTED URBAN LIVING - Two blocks to Whole Foods, and ~three blocks to U Street Metro (Green/Yellow Lines) with direct access to Howard University (0.2 miles), Downtown D.C., and the CBD
- STRONG DEMOGRAPHICS & PRICING ADVANTAGE - Surrounding submarket supported by ~$140K+ median household incomes, with rents positioned at a meaningful discount to larger Class A new construction
- BEST-IN-CLASS BOUTIQUE AMENITIES - Luxurious amenity package includes a high-end lobby, fitness center, rooftop lounge/study with catering kitchen, and two rooftop terraces with monument and skyline views, along with Amazon Hub package lockers, refrigerated grocery storage, bike and resident storage, and Latch-controlled access and unit entry
- DURABLE, HIGH-QUALITY, AWARD-WINNING CONSTRUCTION - Concrete and steel construction—rare for boutique multifamily—developed with The FORTIS Companies and designed by Eric Colbert & Associates. Enhanced sound attenuation, including mass-loaded vinyl in all demising walls, supports superior resident experience and long-term durability. Awarded NAIOP DC|MD's 2024 Best Multifamily Project in Washington, D.C.
- FAVORABLE REGULATORY ENVIRONMENT - Washington, D.C. remains a premier gateway market with durable demand drivers and constrained new multifamily supply, supporting above-trend rent growth over the coming years. In addition, the RENTAL Act of 2025 (D.C. Law 26-80) provides improved regulatory clarity and NoSHA benefits from the Act's new-building TOPA exemption, enhancing operational flexibility and investment certainty
Investment Overview
60-UNIT BOUTIQUE APARTMENT COMMUNITY DELIVERED IN 2023 IN THE HEART OF WASHINGTON D.C.’S SHAW AND 14TH & U STREET CORRIDOR
Broker of Record
-
Brian Hosey
Senior Managing Director, Market Leader- Mid-Atlantic
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