THE OPPORTUNITY 1721 T Street SE is a 20-unit apartment community made up of nine one bedroom and eleven two-bedroom apartments located in the Randle Heights neighborhood of SE Washington, DC. The Property’s high vacancy and location in the path of development makes an ideal value-add opportunity. Future owners also benefit from extensive feasibility conducted by the current owners into adding an additional 10 units to on the site. SURROUNDED BY REDEVELOPMENT The Property is perfectly positioned to capitalize on the area’s growth. Nearby projects such as MLK Gateway, Reunion Square, 11th Street Bridge Park, Skyland Town Center, and Barry Farms are set to deliver over three million square feet of office space and 275,000 square feet of new retail. This downtown location will be in high demand among both future renters and savvy investment professionals alike. IMMEDIATE VALUE-ADD OPPORTUNITY Eleven of the 20 units are currently vacant, allowing new ownership to quickly implement their value-add plan immediately upon acquisition. This allows new ownership to stabilize the asset earlier in its investment cycle, thereby increasing cash yields and potentially allowing a quicker cash-out refinancing. FUTURE DEVELOPMENT POTENTIAL Current ownership has completed significant feasibility studies in pursuit of adding a fourth floor, rear addition, and penthouse to the site. Preliminary architectural drawings, which were recently completed by the owner and are available to new ownership, demonstrate the opportunity to add 10 units to the Property and improving the unit mix to one efficiency unit, 14 one-bedroom units, 11 two-bedroom units, and four three-bedroom units allowing new ownership to create significant value in the future without any immediate commitment to doing so.