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Multifamily

Newcomb St

444 Newcomb St SE, Washington, DC 20032

Listing Price: $1,000,000

Cap Rate
5.35%
Number of Units
4
Occupancy
75.0%
Price/Unit
$250,000
Price/Gross SF
$250.06
Gross SF
3,999

Investment Overview

Newcomb Street apartments is a two-story, four unit mid-rise style apartment building located in the Congress Heights neighborhood in Southeast Washington, DC. Built in 1947, 444 Newcomb St. SE has a total gross building area of 2,652 square feet and sits on a 4,000-square-foot lot. The property contains four one-bedroom/one-bathroom units that are approximately 700 square feet each. The building is separately metered for gas and electric and the landlord pays for the building water and sewer. The building zoned (R-3) allows the building footprint to be expanded both vertically and horizontally to increase the unit size, income and cashflow. The Congress Heights neighborhood is one of D.C.'s newly sought after residential markets. With the second phase of Saint Elizabeth's Hospital underway and the Congress Heights metro redevelopment in the pipeline for the upcoming year. Congress Heights has over $50 million in new development being delivered.

Investment Highlights

  • Four One-bedroom/one bathroom units in Congress Heights (One Vacancy)
  • Redevelopment/Expansion Opportunity (Zoned R-3)
  • One Mile from Congress Heights Metro
  • Easy Access to Interstate 295

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $1,000,000

Cap Rate
5.35%
Number of Units
4
Occupancy
75.0%
Price/Unit
$250,000
Price/Gross SF
$250.06
Gross SF
3,999

Investment Highlights

  • Four One-bedroom/one bathroom units in Congress Heights (One Vacancy)
  • Redevelopment/Expansion Opportunity (Zoned R-3)
  • One Mile from Congress Heights Metro
  • Easy Access to Interstate 295

Investment Overview

Newcomb Street apartments is a two-story, four unit mid-rise style apartment building located in the Congress Heights neighborhood in Southeast Washington, DC. Built in 1947, 444 Newcomb St. SE has a total gross building area of 2,652 square feet and sits on a 4,000-square-foot lot. The property contains four one-bedroom/one-bathroom units that are approximately 700 square feet each. The building is separately metered for gas and electric and the landlord pays for the building water and sewer. The building zoned (R-3) allows the building footprint to be expanded both vertically and horizontally to increase the unit size, income and cashflow. The Congress Heights neighborhood is one of D.C.'s newly sought after residential markets. With the second phase of Saint Elizabeth's Hospital underway and the Congress Heights metro redevelopment in the pipeline for the upcoming year. Congress Heights has over $50 million in new development being delivered.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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