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1615 22nd St SE 0.29 Acres of Commercial Land in Washington, DC 20020
Investment Highlights
- Fully entitled and shovel-ready development opportunity on a 12,500 SF lot with approved permits in place from DOB, DDOE, and WASA
- The approved unit mix includes 3 IZ units, 25 one-bedroom/one-bath residences and 12 two-bedroom/two-bath residences
- Approximately 38,500 SF of total building area.All pre-development work has been completed, allowing a developer to immediately commence construction
- Less Than 3 Miles from the $3+ Billion RFK Redevelopment
Executive Summary
Fully entitled and shovel-ready development opportunity on a 12,500 SF lot with approved permits in place from DOB, DDOE, and WASA for the construction of a 40-unit elevator apartment building consisting of 4 stories plus a cellar and penthouse level. The project encompasses approximately 38,500 SF of total building area, including approximately 29,500 SF of salable residential space. The approved unit mix includes 3 IZ units (1 one-bedroom and 2 two-bedroom units), 25 one-bedroom/one-bath residences ranging from approximately 550–660 SF, and 12 two-bedroom/two-bath residences ranging from approximately 860–1,000 SF, along with 13 parking spaces. All pre-development work has been completed, allowing a developer to immediately commence construction.
Property Facts
1 Lot Available
Lot
| Lot Size | 0.29 AC |
| Lot Size | 0.29 AC |
Permit ready 40 unit development Opportunity
Description
The Property is situated less than three miles from the future RFK Stadium redevelopment, a landmark mixed-use project expected to reshape the eastern portion of Washington, D.C. The redevelopment will introduce new housing, retail, entertainment venues, parks, and infrastructure improvements, further accelerating investment throughout the surrounding neighborhoods. As one of the closest entitled multifamily development opportunities to this transformative project, 1615 22nd Street SE offers investors the opportunity to capitalize on the area's continued growth and revitalization
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Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 5591-0036 | Improvements Assessment | $304,850 |
| Land Assessment | $234,000 | Total Assessment | $538,850 |
Property Taxes
Parcel Number
5591-0036
Land Assessment
$234,000
Improvements Assessment
$304,850
Total Assessment
$538,850
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