1616 27th Street SE
Washington, D.C. 20020
The Offering
Summary
- List Price $1,600,000
- Number of Units 11
- Unit Mix 5 - 1BR/1BA, 6 - 3BR/1BA
- Occupancy 73%
- Recent Renovations 2019
- Current/Year-1 Cap Rate 7.64%/11.69%
- Lot Size 8,834 SF
- Zoning RA-1
Investment Summary
Feldman Ruel is pleased to offer for sale 1616 27th Street SE, an 11-unit multifamily property located in the Hillcrest neighborhood of Washington, D.C. While this sale is subject to the Tenant Opportunity to Purchase Act, the tenants have already been issued their TOPA rights which have since been assigned to ownership and will be assigned to the contract purchaser at closing. Built in 1964 and substantially renovated in 2019, the subject property features five one-bedroom, one-bathroom units and six three-bedroom, one-bathroom units with an average unit size of 667 square feet. Situated on an 8,834-square-foot lot, 1616 27th Street SE offers a rare one-to-one parking ratio and separately metered utilities to reduce owner expenses. Currently 73% occupied, the property benefits from a highly subsidized tenant base. This offering presents a stable investment opportunity with modernized units, low operating costs, and strong income potential in an established neighborhood.
