CHARIS REALTY GROUP

525 7TH STREET NE

WASHINGTON, DC 20002

MLS#: DCDC2266894

$2,250,000

Status: Active
Listing number: DCDC2266894
Listing provided by: Keller Williams Capital Properties
Listing agent phone: None
Last update: 25 days ago
On site: 26 days ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1954

Sq.Footage

7,506

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).

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Central Air, Electric

  • Heating YN

    YES

  • Heating

    Electric, Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    Parking Lot

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.05

  • Lot Size(square feet)

    2214.0

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $2,250,000

  • Tax Amount

    $12,543

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • New Construction

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    30

  • Water Source

    Public

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Listing Courtesy of Stefan Rosu , Keller Williams Capital Properties

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Agent Latoya Thomas

AGENT

Latoya Thomas

Call Latoya today to schedule a private showing.

(202) 449-2703

latoya@charisrealty.com


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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).

525 7TH STREET NE

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