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A Renovated 12 Unit Apartment - 100% Occupied 1631 6th St NW 12 Unit Apartment Building $2,750,000 ($229,167/Unit) 6.95% Cap Rate Washington, DC 20001
Investment Highlights
- Turnkey 12-Unit Multifamily Asset with Modern Finishes and Minimal Near-Term Capital Requirements
- Projected Year One Cap Rate of 6.95%
- Transit-Oriented Positioning with Access to Three Metro Lines Less than Seven Blocks Away
- 100% Occupied with Strong In-Place Income with a 6.62 Percent Cap Rate, Providing Immediate, Stable Cash Flow
- Boutique Asset with Highly Desirable Unit Mix of Six - 1BR/1BA Units, Five 2BR/1 BA Units and One 2 BR/2 BA Unit
Executive Summary
Marcus & Millichap is pleased to exclusively present 1631 6th Street NW, a 12-unit multifamily investment opportunity located in the highly desirable Shaw
neighborhood of Northwest Washington, D.C. Built in 1954 and fully renovated in 2018, this asset offers investors a rare opportunity to acquire a well maintained
multifamily building with strong in-place income, minimal deferred maintenance, and continued rental upside in one of the District’s most dynamic submarkets.
The property consists of 12 well-designed residential units featuring a mix of one-bedroom and two-bedroom layouts, with an average unit size of approximately 548
square feet for the one-bedroom and 680 square feet for the two-bedroom. The building encompasses approximately 8,974 rentable square feet and sits on a 0.12-acre
lot. Units are thoughtfully designed to appeal to today’s urban renter, supporting strong occupancy and consistent rental demand.
1631 6th Street NW is currently generating $273,000 in gross rental income, equating to a 6.62 Percent CAP rate. Through modest rent increases to align with market
levels, an investor can achieve a projected gross rental income of $284,898 with a 6.95 Percent CAP rate in one year with moderate rental increases. This asset is
separately metered whereby the tenants pay for gas and electric, and the owner pays the water expenses. There is also additional income earned from the two off-street
parking spaces.
Strategically located in the Shaw neighborhood, the property offers residents immediate access to a vibrant mix of retail, dining, and entertainment options along 14th
Street NW and U Street Corridor. The property is located three blocks from Shaw-Howard U. metro, and five blocks from the Mount Vernon Square metro, providing
connectivity to major employment hubs throughout Washington, D.C. This strong transit orientation, combined with continued neighborhood investment and limited
new supply of comparable boutique assets, supports long-term rental growth and asset appreciation.
neighborhood of Northwest Washington, D.C. Built in 1954 and fully renovated in 2018, this asset offers investors a rare opportunity to acquire a well maintained
multifamily building with strong in-place income, minimal deferred maintenance, and continued rental upside in one of the District’s most dynamic submarkets.
The property consists of 12 well-designed residential units featuring a mix of one-bedroom and two-bedroom layouts, with an average unit size of approximately 548
square feet for the one-bedroom and 680 square feet for the two-bedroom. The building encompasses approximately 8,974 rentable square feet and sits on a 0.12-acre
lot. Units are thoughtfully designed to appeal to today’s urban renter, supporting strong occupancy and consistent rental demand.
1631 6th Street NW is currently generating $273,000 in gross rental income, equating to a 6.62 Percent CAP rate. Through modest rent increases to align with market
levels, an investor can achieve a projected gross rental income of $284,898 with a 6.95 Percent CAP rate in one year with moderate rental increases. This asset is
separately metered whereby the tenants pay for gas and electric, and the owner pays the water expenses. There is also additional income earned from the two off-street
parking spaces.
Strategically located in the Shaw neighborhood, the property offers residents immediate access to a vibrant mix of retail, dining, and entertainment options along 14th
Street NW and U Street Corridor. The property is located three blocks from Shaw-Howard U. metro, and five blocks from the Mount Vernon Square metro, providing
connectivity to major employment hubs throughout Washington, D.C. This strong transit orientation, combined with continued neighborhood investment and limited
new supply of comparable boutique assets, supports long-term rental growth and asset appreciation.
Property Facts
| Price | $2,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $229,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.95% | Building Size | 7,368 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2018 |
| Property Subtype | Apartment | Parking Ratio | 0.27/1,000 SF |
| Zoning | RF-1 - residential flats low density | ||
| Price | $2,750,000 |
| Price Per Unit | $229,167 |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 7,368 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1954/2018 |
| Parking Ratio | 0.27/1,000 SF |
| Zoning | RF-1 - residential flats low density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,417 | 548 - 550 |
| 2+1 | 6 | $1,989 | 680 - 700 |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,153,850 | |
| Land Assessment | $606,330 | Total Assessment | $1,760,180 |
Property Taxes
Parcel Numbers
Land Assessment
$606,330
Improvements Assessment
$1,153,850
Total Assessment
$1,760,180
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A Renovated 12 Unit Apartment - 100% Occupied | 1631 6th St NW
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