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1010-1012 16TH Street NE
Washington, DC 20002
Multifamily Property For Sale
·
6 Units
Investment Highlights
- 50% of building is vacant.
- Prime Corner Lot Location in Emerging Submarket
- Spacious 1BD/1BA + DEN layouts that can be converted into 2BD units.
Executive Summary
Prime corner-lot multifamily opportunity (1010 & 1012 16th St NE) positioned directly in the path of growth. This 6-unit asset spans across two buildings and features (6) spacious 1BD/1BA + den layouts, each with the potential to be converted into 2-bedroom units—unlocking significant rental upside. At full optimization, Section 8 rents are projected up to $2,545 for 2-bedroom units at this address. The property currently contains 3 vacant units and 3 occupied units at below-market rents. This asset offers immediate value-add through lease-up and strategic repositioning. Projected stabilized NOI is approximately $95,662+ (pro forma available upon request). Located in Trinidad, the property is within 0.6 miles of the H Street Corridor and approximately 1.0 mile from the Union Market District, a rapidly expanding mixed-use hub with over $2B+ in investment. The asset is also 0.8 miles to Gallaudet University and 1.2 miles to the NoMa submarket, both key drivers of tenant demand. The continued eastward expansion of Union Market and NoMa into Trinidad has supported strong rent growth and long-term appreciation in the area. The property is also approximately 1 mile from the planned Washington Commanders stadium redevelopment at the RFK site, one of the largest long-term redevelopment projects in Washington, DC, expected to drive significant economic growth, infrastructure improvements, and neighborhood appreciation.
Property Facts
| Price Per Unit | $124,167 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| No. Units | 6 | Building Size | 4,500 SF |
| Property Type | Multifamily | Average Occupancy | 50% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1940 |
| Zoning | RF-1 | ||
| Price Per Unit | $124,167 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1940 |
| Zoning | RF-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 4075-0176 | Improvements Assessment | $523,960 |
| Land Assessment | $85,260 | Total Assessment | $609,220 |
Property Taxes
Parcel Number
4075-0176
Land Assessment
$85,260
Improvements Assessment
$523,960
Total Assessment
$609,220
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