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1300 Congress St SE
Washington, DC 20032
A Renovated 14 Unit Apartment · Multifamily Property For Sale
·
14 Units
Investment Highlights
- 14-Unit Multifamily Property Situated on a 0.16-Acre Parcel in Washington, D.C.
- Value-Add Upside Through Lease-Up of Vacant Units and Rent Optimization
- Affordable Housing Profile Supporting Long-Term Tenant Demand
- Attractive In-Place Returns with a Projected Year 1 CAP Rate of 8.87%
- Substantial Renovation in 2011, and an Efficient Unit Mix Comprised Primarily of 2-Bedroom / 1-Bathroom Apartments, and 1BR and 3BR Units
- Well-Suited for Both Local and 1031 Exchange Investors Seeking Yield and Growth
Executive Summary
Marcus & Millichap is pleased to exclusively present 1300 Congress Street Apartments, a 14-unit multifamily investment opportunity located at 1300 Congress Street SE,
Washington, DC 20032. The property is situated on a 0.16-acre parcel in Southeast Washington, D.C., within an established residential corridor that continues to attract
investor interest due to affordability, improving fundamentals, and proximity to major employment centers.
Originally constructed in 1954 and substantially renovated, in 2011, the asset consists of an efficient unit mix primarily comprised of 2-bedroom / 1-bathroom apartments, complemented by 1-bedroom and 3-bedroom units, providing flexibility in catering to a broad tenant base. With an average unit size of approximately 667 square feet and a current occupancy of 72%, the property demonstrates in-place income with a clear path to stabilization and value enhancement. This opportunity is well-suited for both local investors and 1031 exchange buyers seeking durable yield with growth potential in a supply-constrained urban market.
This offering delivers strong in-place and projected returns, supported by a projected Year 1 CAP Rate of 8.87% and a Year 1 NOI of $155,287. Current rents remain below
market levels, presenting a clear value-add opportunity through lease-up of vacant units and gradual rent optimization, while maintaining affordability for the submarket.
Located near Alabama Avenue SE, I-295, and multiple Metrobus routes, the property offers convenient access to Downtown Washington, D.C., Joint Base Anacostia-Bolling,
and Prince George’s County. Nearby retail, schools, and neighborhood services further enhance tenant demand and long-term rental stability.
1300 Congress Street Apartments represents a compelling opportunity to acquire a well-located, small-scale multifamily asset with attractive yield, operational upside, and
long-term appreciation potential in one of Southeast D.C's steadily evolving residential neighborhoods.
Washington, DC 20032. The property is situated on a 0.16-acre parcel in Southeast Washington, D.C., within an established residential corridor that continues to attract
investor interest due to affordability, improving fundamentals, and proximity to major employment centers.
Originally constructed in 1954 and substantially renovated, in 2011, the asset consists of an efficient unit mix primarily comprised of 2-bedroom / 1-bathroom apartments, complemented by 1-bedroom and 3-bedroom units, providing flexibility in catering to a broad tenant base. With an average unit size of approximately 667 square feet and a current occupancy of 72%, the property demonstrates in-place income with a clear path to stabilization and value enhancement. This opportunity is well-suited for both local investors and 1031 exchange buyers seeking durable yield with growth potential in a supply-constrained urban market.
This offering delivers strong in-place and projected returns, supported by a projected Year 1 CAP Rate of 8.87% and a Year 1 NOI of $155,287. Current rents remain below
market levels, presenting a clear value-add opportunity through lease-up of vacant units and gradual rent optimization, while maintaining affordability for the submarket.
Located near Alabama Avenue SE, I-295, and multiple Metrobus routes, the property offers convenient access to Downtown Washington, D.C., Joint Base Anacostia-Bolling,
and Prince George’s County. Nearby retail, schools, and neighborhood services further enhance tenant demand and long-term rental stability.
1300 Congress Street Apartments represents a compelling opportunity to acquire a well-located, small-scale multifamily asset with attractive yield, operational upside, and
long-term appreciation potential in one of Southeast D.C's steadily evolving residential neighborhoods.
Property Facts
| Price Per Unit | $125,000 | Building Class | F |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 8.87% | Building Size | 9,344 SF |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2011 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RA-1 - Residential - The RA-1 zone provides for areas predominantly developed with low- to moderate-density development | ||
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 8.87% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | F |
| Lot Size | 0.16 AC |
| Building Size | 9,344 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1954/2011 |
| Opportunity Zone |
Yes |
| Zoning | RA-1 - Residential - The RA-1 zone provides for areas predominantly developed with low- to moderate-density development |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Dining Room
- Family Room
- Vinyl Flooring
Site Amenities
- Fenced Lot
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 11 | - | 667 - 718 |
| 1+1 | 2 | - | 667 |
| 3+1 | 1 | - | 668 |
Property Taxes
| Parcel Number | 5915-0012 | Improvements Assessment | $1,060,910 |
| Land Assessment | $282,600 | Total Assessment | $1,343,510 |
Property Taxes
Parcel Number
5915-0012
Land Assessment
$282,600
Improvements Assessment
$1,060,910
Total Assessment
$1,343,510
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