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Multifamily

Common Richardson

410 Richardson Pl NW, Washington, DC 20001

Listing Price: $5,000,000

Cap Rate
5.76%
Number of Units
4
Price/Unit
$1,250,000
Price/Gross SF
$446.43
Gross SF
11,200

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Common Richardson, an 11,200-square-foot, 24-bed, 28-bath coliving property located in the Shaw neighborhood of Northwest, Washington DC. Newly constructed between 2016 and 2017, Common Richardson is a four-unit residential building that is currently master-leased by Common, a New York-based, best-in-class coliving operator with over 6,000 coliving and traditional apartments currently under management across 11 major U.S. cities (and over 25,000 total units in the management pipeline across 28 cities worldwide).

Investment Highlights

  • Strong, Best-in-Class Tenant
  • New Construction, Turnkey Asset, Not Subject to Rent Control
  • Guaranteed Income & Strong Master Lease
  • Lack of Housing Affordability
  • Densely-Populated Affluent Area
  • Highly Walkable and Transit-Oriented

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Listing Price: $5,000,000

Cap Rate
5.76%
Number of Units
4
Price/Unit
$1,250,000
Price/Gross SF
$446.43
Gross SF
11,200

Investment Highlights

  • Strong, Best-in-Class Tenant
  • New Construction, Turnkey Asset, Not Subject to Rent Control
  • Guaranteed Income & Strong Master Lease
  • Lack of Housing Affordability
  • Densely-Populated Affluent Area
  • Highly Walkable and Transit-Oriented

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Common Richardson, an 11,200-square-foot, 24-bed, 28-bath coliving property located in the Shaw neighborhood of Northwest, Washington DC. Newly constructed between 2016 and 2017, Common Richardson is a four-unit residential building that is currently master-leased by Common, a New York-based, best-in-class coliving operator with over 6,000 coliving and traditional apartments currently under management across 11 major U.S. cities (and over 25,000 total units in the management pipeline across 28 cities worldwide).

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

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