1731 28th St SE
Washington, DC 20020
L'Enfant Apartments · Multifamily Property For Sale · 25 Units

THE OPPORTUNITY:
L’Enfant Apartments is a 25-unit property situated in the highly desirable Hillcrest neighborhood. The Property presents significant revenue growth potential with minimal capital expenditure requirements, offering investors a prime opportunity to enhance returns and maximize value through strategic revenue improvements.
WELL-MAINTAINED ASSET WITH SUBSTANTIAL IMPROVEMENTS:
The Property has been meticulously maintained, with over $430,000 invested in capital improvements over the past decade. These enhancements ensure the asset is ready for immediate ownership with minimal deferred maintenance. Major upgrades include an electrical heavy-up completed in August 2024, a new roof installed in 2019 with an active warranty, and a full window replacement in 2015.
SURROUNDED BY TRANSFORMATIVE REDEVELOPMENT:
L’Enfant Apartments is perfectly positioned to benefit from the extensive redevelopment occurring in the surrounding area. Major projects such as MLK Gateway, Reunion Square, the 11th Street Bridge Park, Skyland Town Center, and Barry Farms are set to deliver over 3 million square feet of office space and 275,000 square feet of retail. These developments will significantly enhance the neighborhood’s appeal, increasing demand among renters and elevating the Property’s investment potential.
REVENUE GROWTH OPPORTUNITIES:
The Property’s current rents are approximately 20% below market rates, presenting a compelling opportunity to align with market trends and achieve significant revenue growth. This rent upside positions the asset for immediate and sustained income enhancement.
VALUABLE RESIDENT AMENITIES WITH ADDITIONAL REVENUE POTENTIAL:
Featuring 10 off-street parking spaces, the Property offers a desirable amenity for residents while also creating an opportunity to generate additional revenue. This combination enhances both the appeal and profitability of the asset.
LOCATED WITHIN AN OPPORTUNITY ZONE:
Strategically located within a designated Opportunity Zone, this property offers investors not only substantial growth potential but also the opportunity to take advantage of significant tax incentives under the Opportunity Zone program. These benefits include the potential to defer or eliminate capital gains taxes, making it an exceptional choice for investors seeking to enhance returns while contributing to the economic revitalization of the area.