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    2628 Martin Luther King Jr Ave Washington, DC 20020

    For Sale
    $1,150,000

    Prime DC multifamily development opportunity. Fully permitted.

    Property size:
    15,296 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 10-unit apartment building opportunity is located at 2628 Martin Luther King Jr. Avenue SE in Washington, D.C.'s Anacostia neighborhood. The property boasts a total of 15,296 square feet of proposed gross space, with 13,730 square feet of rentable area. The building plan includes five three-bedroom units and five four-bedroom units, catering to a variety of renter needs. The site also offers seven surface-level parking spaces and four rooftop terraces, adding significant value and appeal. The 10,585 square foot lot is zoned RA-1. At closing, the property conveys with a complete set of DCRA-approved plans and all necessary permits, allowing for immediate groundbreaking. This turnkey development presents a rare chance to capitalize on the growing demand for multifamily housing in a vibrant and up-and-coming area of Washington, D.C. The asking price is $1,150,000. The property's APN is 5868-0000-1059.

    Property Features for 2628 Martin Luther King Jr Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,296 SF

    Building Details

    Units
    10
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    District Of Columbia
    State
    District of Columbia
    Longitude
    -76.995613183498
    Latitude
    38.858309675258

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    FAQs

    What type of property is this?
    Multifamily property - Prime DC multifamily development opportunity. Fully permitted.
    Where is this multifamily property located?
    The property is located at 2628 Martin Luther King Jr Ave Washington, DC.
    What is the asking price?
    The asking price for this property is $1,150,000.
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    2628 Martin Luther King Jr Ave Washington, DC 20020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2628 Martin Luther King Jr Ave Washington, DC 20020
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