700 Quincy St NE - Apartments FOR SALE


Washington, DC 20017
$3,491,872 USD
571-259-4032
700 Quincy St NE, Washington, DC for Sale
$3,491,872 USD
Apartments - FOR SALE
1/4
null | 6.25% Cap Rate

700 Quincy St NE
Washington, DC 20017


HIGHLIGHTS

  • * 100% Leased
  • * New construction—completed in 2021
  • * HCVP tenants—guaranteed rent
  • * Short walk to Brookland-CUA Metro

OVERVIEW

* 100% Leased * New construction—completed in 2021 * HCVP tenants—guaranteed rent * Short walk to Brookland-CUA Metro Quincy St. Apartments is a new construction (2021), Class-A style 7-unit multifamily building, with washer/dryer in each unit. All tenants participate in the Housing Choice Voucher Program, offering mutual benefits: Tenants can rent in private market, and landlords get guaranteed rent. The new construction means minimal to no deferred maintenance, providing a benefit to investors from a property in excellent condition, increasing its appeal and potential for long-term returns. In addition, the proximity to Catholic University of America campus means a steady supply of students seeking access to walkable housing. The large bedroom count in some of the units would be perfect for a shared-living concept. Tenant Opportunity to Purchase Act (TOPA). Before selling, the Landlord must provide the Tenants with an Offer of Sale, regardless of whether a Third Party contract is already in place. Only an incorporated Tenant Organization may exercise the right to purchase a property with 5 or more units. A statement of interest has to be made within 45 days of receipt of the Offer of Sale.

FOR SALE DETAILS

PRICE

$3,491,872 USD

PRICE/SF

$279 USD /SF

# OF UNITS

7

PRICE/UNIT

$498,839

CAP RATE

6.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,434 SF

ZONING

RA-1

APN/PARCEL ID

3819-0017

ASK ABOUT THIS PROPERTY

Geoffrey LindsayCapital Realty AdvisorsMore Info
571-259-4032

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Geoffrey LindsayCapital Realty AdvisorsMore Info
571-259-4032

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