1721 T St SE, Washington, DC 20020

Located in the Anacostia neighborhood of Washington, DC, 1721 T Street SE is a 20-unit multifamily asset. Constructed in 1960, the building totals 17,279 gross square feet and is situated on an 11,291 square foot lot zoned RA-2. The unit mix includes fourteen 1-bedroom units averaging approximately 712 square feet, and six 2-bedroom units averaging approximately 875 square feet. The property features central building systems and on-site laundry facilities. Currently, 9 of the 20 units are vacant, presenting an opportunity for a new owner to implement a strategic lease-up process while completing light interior upgrades. The property is well-suited for light interior upgrades, allowing a new owner to increase rents through a combination of market rate and HCVP leasing strategies while the neighborhood continues to improve. The property is positioned to benefit from the growth of Skyland Town Center and the expansion of the Anacostia neighborhood, which has seen an increase in restaurants and retail establishments. Skyland Town Center, less than half a mile away, is planned to be the largest retail hub in southeast Washington, DC, and includes retail such as Lidl, CVS Pharmacy, Chase Bank, pizza, Mezeh, Starbucks, Tropical Smoothie Cafe, and Jersey Mike's. The Crest, a complex featuring ground-floor retail and 263 multifamily units, opened in 2021. When fully realized, this 18-acre development will encompass over 137,000 square feet of retail space and more than 450 residential units.