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525 7th St NE
Washington, DC 20002
Multifamily Property For Sale
·
9 Units
Investment Highlights
- Value-add opportunity
- Excellent Capitol Hill location
Executive Summary
Rare value-add opportunity to purchase 9 unit building with rent upside in Capitol Hill. The building has 2 vacancies and the most recent lease signed was at $3,100/month (HCVP) for a renovated 2 bedroom/1 bath. Rents for legacy tenants are lower. Pro forma NOI is almost $175,000, a 7.8% cap at the list price.
The building has comparably large units for the area. Out of 9 units, 5 have already been converted to 2 bedroom/ 1 bath. The rest of the units are 1 bedrooms and there is an opportunity to convert them to 2s on turns.
Utilities are sub metered. All units feature central heat and 5 also have central cooling (the others have window A/C). There are 4 parking spaces in the rear.
The property is in historic Capitol Hill. Walk score is 83. Nearby amenities include Whole Foods (0.3 mi), Union Station (0.7 mi), Trader Joe's (0.9 mi), and Stanton Park (0.3 mi).
The building has comparably large units for the area. Out of 9 units, 5 have already been converted to 2 bedroom/ 1 bath. The rest of the units are 1 bedrooms and there is an opportunity to convert them to 2s on turns.
Utilities are sub metered. All units feature central heat and 5 also have central cooling (the others have window A/C). There are 4 parking spaces in the rear.
The property is in historic Capitol Hill. Walk score is 83. Nearby amenities include Whole Foods (0.3 mi), Union Station (0.7 mi), Trader Joe's (0.9 mi), and Stanton Park (0.3 mi).
Property Facts
| Price Per Unit | $348,275 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 9 | Building Size | 7,506 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1954 |
| Apartment Style | Low-Rise | Parking Ratio | 0.53/1,000 SF |
| Zoning | RF-1 | ||
| Price Per Unit | $348,275 CAD |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,506 SF |
| No. Stories | 3 |
| Year Built | 1954 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | RF-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 650 - 750 |
| 2+1 | 5 | - | 650 - 750 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,579,859 CAD | |
| Land Assessment | $951,710 CAD | Total Assessment | $2,531,569 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$951,710 CAD
Improvements Assessment
$1,579,859 CAD
Total Assessment
$2,531,569 CAD
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