1701 E St Washington, DC 20002

Property Details for 1701 E St

Year built

2008

Property size

8,000 SF

Property type

Apartment buildings

Description

This exceptional six-unit apartment building, constructed in 2008, presents a compelling investment opportunity in Washington, D.C.'s desirable Capitol Hill neighborhood. Boasting 8,000 square feet of net rentable space, the property features six three-bedroom units, each equipped with independent circuit panels, central air conditioning, hot water heaters, in-unit laundry, and assigned parking. The building sits on a 4,176 square foot corner lot and offers a current occupancy rate of 100%, generating a Net Operating Income (NOI) of $205,500, translating to a 6% cap rate. A pro-forma NOI of $222,500 projects a 6.5% cap rate. The asking price is $3,425,000, representing a price per square foot of $428.12 and a price per unit of $570,833.33. The property is zoned RF-1 and benefits from its location near various amenities, including the Rosedale Recreation Center, Safeway, CVS, and Ross, along with convenient access to public transportation. With a Walk Score of 86 and a Bike Score of 99, this property offers residents a highly walkable and bikeable lifestyle. The building's features include hardwood floors and double-pane windows, reflecting its well-maintained condition. This turnkey investment is priced attractively and offers significant potential for future growth. The property's strong cash flow and high occupancy rate make it an ideal addition to any investment portfolio.