3424-3425 11th Pl SE - Apartments FOR SALE


Washington, DC 20032
$4,100,000 USD
202-221-8426
3424-3425 11th Pl SE, Washington, DC for Sale
$4,100,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

3424-3425 11th Pl SE
Washington, DC 20032


HIGHLIGHTS

  • Four Blocks from St. Elizabeths East's 183-Acre New Mixed-Use Development
  • Long-Term Ownership By An Award-Winning Development & Property Management Company
  • Stabilized Asset with Diverse Unit Mix & Strong Rent Growth Potential
  • Transit Oriented Location

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of Richman Apartments, a 41-unit multifamily community in the Congress Heights neighborhood of Southeast Washington, DC (the “Property”). Richman Apartments is within close proximity to the Congress Heights (0.4 miles) and Southern Avenue (1.4 miles) Metro Stations, The Shops at Park Village (a 111,000 square foot Giant Food anchored shopping center), United Medical Center, US Coast Guard Headquarters, and the Joint Base Anacostia-Bolling, a 1,018-acre military base that is designed to support the 17,000 military and civilian members it serves in the National Capital Region. Additionally, the Property is a short walk from the St. Elizabeths Campus (East and West), both of which are being extensively redeveloped. Richman Apartments consists of approximately 39,794 gross square feet within two adjacent three-story plus basement brick multifamily buildings. The Property contains forty-one (41) residential units comprised of fourteen (14) one-bedroom units, twenty-one (21) two-bedroom units and six (6) three-bedroom units on a combined 1.02-acres of land (44,484 square feet). The well-maintained buildings offer an on-site laundry facility, a private setting with attractive green space, a perimeter fence, and onsite parking. Also, the building’s location in northern part of Congress Heights, a neighborhood that is undergoing significant redevelopment, will consistently drive rental income and demand and cause the asset to serve as a strong, stable investment for years to come.

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$103 USD /SF

# OF UNITS

41

PRICE/UNIT

$100,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Richman Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1947

PARKING SPACES

14

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,238 SF

ZONING

R-2

APN/PARCEL ID

5935-0021

ASK ABOUT THIS PROPERTY

Dennis CravediHorvath & TremblayMore Info
202-221-8426

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Dennis CravediHorvath & TremblayMore Info
202-221-8426

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