Multifamily

1254 Meigs Pl. NE

1254 Meigs Pl., Washington, DC 20002

Listing Price: $1,200,000

Cap Rate
5.29%
Number of Units
4
GRM
11.83
Occupancy
95.0%
Price/Unit
$300,000
Price/Gross SF
$428.57
Gross SF
2,800

Investment Overview

Marcus & Millichap is pleased to present theexclusive listing for theapartments located at 1254 Meigs Pl. NE Washington D.C.The apartments arewelllocated in the Northeast Quadrant of Washington D.C, directly situated in the Trinidad submarket. The property is a two-story mid-rise style apartment building built in 1940 and renovated in 2016, the property contains Four total apartment units and is comprised of all Three-Bedroom/One-bathroom units. The landlord pays for the building's water/sewer. Tenants pay for separately metered electric and gas within their units. 1254 Meigs Pl. NE has a total gross building area of 2,958 SF and sits on a 3,234 SF lot, zoned RF-1.

Trinidad is a residential neighborhood in Northeast Washington, DC. Trinidad is a quiet neighborhood with easy access to both the employment opportunities of NOMA and Capitol Hill. The submarket is situated just a short drive from many of North Easts top area amenities including the exciting restaurants, bars and night life on the H Street retail Corridor, multiple major bus routes, NOMA Gallaudet Metro station and Union Market. Additionally the building is a mile and a half from Union Station, and two miles from the National Mall. Whole Foods, Trader Joes, Safeway and Aldis are all within a 10 minutes drive of the submarket.

1254 Meigs Pl. presents investors with the opportunity to stabilize this asset by placing Section 8 tenants in the building. Current Section 8 rent for three-bedroom units is $2,520.

Investment Highlights

  • Strong Rental Fundamentals and Tenant Demand in the Submarket
  • In Close Proximity to both NOMA and Capitol Hill
  • In Great Proximity to the H St. Corridor

Exclusively Listed By

  • Jason Harris

    Associate

    Email Jason

    License(s): MD: 655567, DC: SP98376953

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Vice President / District Manager

    License(s): DC: BR200201612

    District of Columbia

Listing Price: $1,200,000

Cap Rate
5.29%
Number of Units
4
GRM
11.83
Occupancy
95.0%
Price/Unit
$300,000
Price/Gross SF
$428.57
Gross SF
2,800

Investment Highlights

  • Strong Rental Fundamentals and Tenant Demand in the Submarket
  • In Close Proximity to both NOMA and Capitol Hill
  • In Great Proximity to the H St. Corridor

Investment Overview

Marcus & Millichap is pleased to present theexclusive listing for theapartments located at 1254 Meigs Pl. NE Washington D.C.The apartments arewelllocated in the Northeast Quadrant of Washington D.C, directly situated in the Trinidad submarket. The property is a two-story mid-rise style apartment building built in 1940 and renovated in 2016, the property contains Four total apartment units and is comprised of all Three-Bedroom/One-bathroom units. The landlord pays for the building's water/sewer. Tenants pay for separately metered electric and gas within their units. 1254 Meigs Pl. NE has a total gross building area of 2,958 SF and sits on a 3,234 SF lot, zoned RF-1.

Trinidad is a residential neighborhood in Northeast Washington, DC. Trinidad is a quiet neighborhood with easy access to both the employment opportunities of NOMA and Capitol Hill. The submarket is situated just a short drive from many of North Easts top area amenities including the exciting restaurants, bars and night life on the H Street retail Corridor, multiple major bus routes, NOMA Gallaudet Metro station and Union Market. Additionally the building is a mile and a half from Union Station, and two miles from the National Mall. Whole Foods, Trader Joes, Safeway and Aldis are all within a 10 minutes drive of the submarket.

1254 Meigs Pl. presents investors with the opportunity to stabilize this asset by placing Section 8 tenants in the building. Current Section 8 rent for three-bedroom units is $2,520.

Exclusively Listed By

  • Jason Harris

    Associate

    Email Jason

    License(s): MD: 655567, DC: SP98376953

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Vice President / District Manager

    License(s): DC: BR200201612

    District of Columbia

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