Multifamily Property in Bankruptcy
245 8th Street Northeast Washington, DC 20002
For Sale
Contact for pricing
Court-approved Chapter 11 sale for 245–249 8th Street NE, with physical vacancy and rent control exemption.
Property Size8,016 SF
Price / SF$361.78
Days on Market70
Property Features for 245 8th Street Northeast
General Information
Standard status
Active
Size
8,016 SF
Property subtype
Multifamily
Building Details
Year Built
1987
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Christian Barreiro · License #DC: SP98373426
Source:
Crexi
Added: May 22
Changed: Jul 22
Last Checked: Jul 29 at 2:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay is offering 245–249 8th Street NE as a multifamily investment in connection with a Chapter 11 bankruptcy proceeding. The transaction is court-supervised and subject to Bankruptcy Court approval, with the sale expected to be completed free and clear of liens, claims, and encumbrances under Section 363 of the Bankruptcy Code, subject to approval. The offering is marketed as a transparent, structured process for qualified bidders.
Located in the heart of Capitol Hill, the property is positioned about eight blocks east of the United States Capitol. The asset is being offered with significant physical vacancy, and the remarks indicate an exemption from Washington, DC rent control. Property size is listed as 8,016 square feet.
Located in the heart of Capitol Hill, the property is positioned about eight blocks east of the United States Capitol. The asset is being offered with significant physical vacancy, and the remarks indicate an exemption from Washington, DC rent control. Property size is listed as 8,016 square feet.
Key Highlights
- Multifamily property built in 1987 at 245–249 8th Street NE (Capitol Hill).
- Court‑approved sale process under Chapter 11 bankruptcy proceedings (subject to Bankruptcy Court approval).
- Expected to be completed free and clear of liens, claims, and encumbrances under Section 363 of the Bankruptcy Code (subject to court approval).
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $264.5k | $33.00 |
| − Vacancy | −$16.4k | −$2.05 |
| EGI | $248.1k | $30.95 |
| − OpEx | −$111.7k | −$13.93 |
| NOI | $136.5k | $17.02 |
8,016 SF · lease $33.00/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.27M
NOI $136,470 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.62M – $4.83M
NOI $289,707 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Court-approved Chapter 11 sale for 245–249 8th Street NE, with physical vacancy and rent control exemption.
Where is this apartment building located?
The property is located at 245 8th Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Multifamily property built in 1987 at 245–249 8th Street NE (Capitol Hill).; Court‑approved sale process under Chapter 11 bankruptcy proceedings (subject to Bankruptcy Court approval).; Expected to be completed free and clear of liens, claims, and encumbrances under Section 363 of the Bankruptcy Code (subject to court approval).
