2027 Rhode Island Ave NE | Washington, DC 20018
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- LoopNet Team
2027 Rhode Island Ave NE
Washington, DC 20018
The Heritage DC - 43 Multifamily Units · Multifamily Property For Sale
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43 Units
INVESTMENT HIGHLIGHTS
- Elegant New Construction of Forty-Three Residential Units and Two 2,300 SF Commercial Spaces
- Floor-to-Ceiling Windows, High-End Energy Efficient Appliances, Solid Stone Countertops, High-End Fixtures, Sophisticated Sound Barr
- Income Potential to Achieve a 5.40% CAP Rate After the Building is Fully Stabilized at 95% Occupancy.
- Each Residential and Commercial Unit is Registered as a Condominium Unit.
- Opportunity to Increase Occupancy from 50% to 90% which will Increase the NOI by 40%.
- An Attractive Mix of 20 one-bedroom units, 2 one-bedroom/two den/three-bath units, 17 two-bedroom/two-bath units, and 4 two-bedroom penthouse units
PROPERTY FACTS
| No. Units | 43 | Building Size | 31,720 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 6 |
| Apartment Style | Mid-Rise | Year Built | 2022 |
| Building Class | B | Parking Ratio | 0.25/1,000 SF |
| Lot Size | 0.25 AC | ||
| Zoning | MU-4 - Mixed-use developments that permit a broad range of commercial, institutional, and multiple dwelling unit residential development at varying densities | ||
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 31,720 SF |
| Average Occupancy | 90% |
| No. Stories | 6 |
| Year Built | 2022 |
| Parking Ratio | 0.25/1,000 SF |
| Zoning | MU-4 - Mixed-use developments that permit a broad range of commercial, institutional, and multiple dwelling unit residential development at varying densities |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+2 | 2 | $2,500 | 527 |
| 1+1 | 20 | $2,050 | 586 |
| 2+2 | 21 | $3,250 | 834 - 934 |
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