1810 I St NE - Apartments FOR SALE


Washington, DC 20002
$4,320,000 USD
202-536-3742
1810 I St NE, Washington, DC for Sale
$4,320,000 USD
Apartments - FOR SALE
1/17
null | 7.12% Cap Rate

1810 I St NE
Washington, DC 20002


HIGHLIGHTS

  • New Construction in Trinidad Submarket, Within Walking Distance to H Street NE Corridor
  • Attractive Unit Mix Featuring 11 Two-Bedroom/Two-Bath Units, Including One Large Penthouse Suite, and Two One-Bedroom Units with Dens
  • Priced at 7.13 Percent CAP Rate, With Ability to Achieve 7.36 Percent CAP Rate Once Fully Stabilized
  • Located Within One Mile of Union Market and Union Station’s Metro and Rail

OVERVIEW

Marcus & Millichap is pleased to present for sale the multifamily property located at 1810 I Street NE in the Trinidad NE corridor of Washington, D.C. This 14-unit apartment building is a newly constructed, three-story property situated on a 0.09-acre lot, with select units featuring private balcony access. Each of the 14 units feature condo-level nishes, including granite countertops, stainless steel appliances, custom cabinetry, and more. The property also offers three parking spaces for tenants. The building includes high-end amenities, such as quartz countertops, gas stoves, Samsung washer/dryers in every unit, Hardi Board and stucco exterior, and a TPO roof. Additionally, 14 condo deeds have been completed and require only ling by the new owner. Construction of this modern development was completed in 2024. The Trinidad NE corridor is an evolving and thriving neighborhood known for its mix of new residential developments and a variety of local businesses, including cafes, retailers, and international eateries. The property is ideally located one mile from Union Market, a premier dining and shopping destination, and is within walking distance of Hechinger Mall, which is set to be redeveloped into 2.4 million square feet of mixeduse space. Currently, 10 of the 14 units are occupied, generating an annual income of $307,550 and operating at a 7.12 percent cap rate. Once fully leased, the property is projected to achieve a net operating income (NOI) of $318,076, increasing the cap rate to 7.36 percent. Additionally, this investment offers a compelling ve-year levered return of 15.76 percent, making it particularly attractive in today’s market. Future appreciation potential, driven by the area’s ongoing revitalization, further enhances the investment’s long-term value. 1810 I Street NE presents a rare opportunity for investors to acquire a strategically positioned asset with both immediate income upside and substantial long-term growth potential in one of Washington, D.C.’s most sought-after neighborhoods.

FOR SALE DETAILS

PRICE

$4,320,000 USD

PRICE/SF

$409 USD /SF

# OF UNITS

14

PRICE/UNIT

$308,571

CAP RATE

7.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Unit - Fully Leases 7.25%+ CAP Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2024

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,799 SF

ZONING

RA-2

APN/PARCEL ID

4488-0019

ASK ABOUT THIS PROPERTY

Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

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Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.