615 Kennedy St Washington, DC 20011

This exceptional eight-unit apartment building, completed in 2024, presents a compelling investment opportunity in Washington, D.C.'s vibrant Kennedy Street Corridor. Located at 615 Kennedy St NW, Washington, DC 20011, this Class A property boasts 9,931 square feet, with 8,276 square feet of net rentable space. The building features six bi-level units and two penthouse units, each offering condo-level finishes including granite countertops and stainless steel appliances. Two of the units include private decks, and the penthouses feature a shared rooftop deck. The property sits on a 0.05-acre lot and is zoned MU-4. With a current NOI of $206,168 and a pro-forma NOI of $219,283, this property offers a 7.11% cap rate and a pro-forma cap rate of 7.56%. The asking price is $2,900,000, translating to $362,500 per unit and $292.01 per square foot. Situated within walking distance of Fort Totten, this property benefits from its location in a designated Opportunity Zone, providing potential tax advantages. The Kennedy Street Corridor is experiencing significant redevelopment, promising future appreciation. The building includes two parking spaces.