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Multifamily

3508-3512 Ely Place SE

3508 Ely Pl SE, Washington, DC 20019

Listing Price: $2,400,000

Cap Rate
2.00%
Number of Units
22
Price/Unit
$109,091
Price/Gross SF
$342.37
Gross SF
7,010

Investment Overview

Marcus & Millichap is pleased to present the market & pricing analysis for the apartments at 3508-3512 Ely PL SE Washington, DC. The buildings are two two-story mid rise style apartment buildings located in the Fort Dupont Park neighborhood. The apartments are permitted and ready for redevelopment into a 22-Units. The buildings sit on a 0.1 acres of land zoned RA-1 and currently 62% vacant and will be delivered 100% Vacant upon closing. The Fort Dupont neighborhood is nestled between Deanwood and Anacostia in the SE Quardrant of D.C. Fort Dupont is one of D.C.’s hidden treasures. Fort Dupont is a predominately residential neighborhood surrounding Fort Dupont Park a 376-acre park managed by the National Park Service. With not much development in its pipeline its close proximity to Anacostia makes its ideal for continued residential and rental price increases. Fort Dupont’s main attractions are the Washington Nationals Youth Academy facility and Fort Dupont Ice Arena. Both facilities have tremendous presence in the community and offer individuals some community entertainment. With current HCVP rents and soaring above the market rent averages investors have the opportunity to increase their rents as leases expire and fill the vacancies with HCVP tenants or execute other investment strategies.

Investment Highlights

  • Redevelopment Opportunity in Fort Dupont Park
  • 3508 Building Fully Vacant, 3512 - Delivered Vacant
  • Permit Ready for 22 Units

Exclusively Listed By

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

Multifamily

3508-3512 Ely Place SE

Listing Price: $2,400,000

Cap Rate
2.00%
Number of Units
22
Price/Unit
$109,091
Price/Gross SF
$342.37
Gross SF
7,010

Investment Highlights

  • Redevelopment Opportunity in Fort Dupont Park
  • 3508 Building Fully Vacant, 3512 - Delivered Vacant
  • Permit Ready for 22 Units

Investment Overview

Marcus & Millichap is pleased to present the market & pricing analysis for the apartments at 3508-3512 Ely PL SE Washington, DC. The buildings are two two-story mid rise style apartment buildings located in the Fort Dupont Park neighborhood. The apartments are permitted and ready for redevelopment into a 22-Units. The buildings sit on a 0.1 acres of land zoned RA-1 and currently 62% vacant and will be delivered 100% Vacant upon closing. The Fort Dupont neighborhood is nestled between Deanwood and Anacostia in the SE Quardrant of D.C. Fort Dupont is one of D.C.’s hidden treasures. Fort Dupont is a predominately residential neighborhood surrounding Fort Dupont Park a 376-acre park managed by the National Park Service. With not much development in its pipeline its close proximity to Anacostia makes its ideal for continued residential and rental price increases. Fort Dupont’s main attractions are the Washington Nationals Youth Academy facility and Fort Dupont Ice Arena. Both facilities have tremendous presence in the community and offer individuals some community entertainment. With current HCVP rents and soaring above the market rent averages investors have the opportunity to increase their rents as leases expire and fill the vacancies with HCVP tenants or execute other investment strategies.

Exclusively Listed By

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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