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Tivoli Place 3427 13th St NW 16 Unit Apartment Building $3,900,000 ($243,750/Unit) 7.54% Cap Rate Washington, DC 20010
Investment Highlights
- Opportunity to Acquire an Expertly Maintained Multifamily Asset in NW Washington, DC
- Excellent Location in Columbia Heights, One of DC's Most Vibrant and Transit-Oriented Neighborhoods
- Ability to Lease Up Property and Increase Rents in Accordance with DC Rent Control Regulations
Executive Summary
Harbor Stone Advisors is pleased to present Tivoli Place, an expertly maintained multifamily asset in NW Washington, DC. Located in the desirable Columbia Heights neighborhood, residents of Tivoli Place are just steps away from retail, dining, and nightlife.
The property features 16 spacious units with a mix of (1) Efficiency, (5) 1 Br-1 Ba, (8) 2 Br-1 Ba, and (2) 2 Br-2 Ba. Typical unit interiors include white/stainless steel appliances, wood cabinets, granite/marble countertops, and hardwood/tile flooring. There is also a laundry facility on-site, four surface parking spaces, and ten units have a private patio/balcony. The opportunity exists for a new owner to stabilize the property as it is currently 50% occupied, and lease the vacant units up to a 10% max increase over the prior rents in accordance with DC rent control regulations.
The property features 16 spacious units with a mix of (1) Efficiency, (5) 1 Br-1 Ba, (8) 2 Br-1 Ba, and (2) 2 Br-2 Ba. Typical unit interiors include white/stainless steel appliances, wood cabinets, granite/marble countertops, and hardwood/tile flooring. There is also a laundry facility on-site, four surface parking spaces, and ten units have a private patio/balcony. The opportunity exists for a new owner to stabilize the property as it is currently 50% occupied, and lease the vacant units up to a 10% max increase over the prior rents in accordance with DC rent control regulations.
Property Facts
| Price | $3,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $243,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.54% | Building Size | 13,852 SF |
| Gross Rent Multiplier | 7.54 | Average Occupancy | 50% |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | RF-1 | ||
| Price | $3,900,000 |
| Price Per Unit | $243,750 |
| Sale Type | Investment |
| Cap Rate | 7.54% |
| Gross Rent Multiplier | 7.54 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 13,852 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1911 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | RF-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
Site Amenities
- Laundry Facilities
- Vintage Building
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 2839-0827 | Improvements Assessment | $2,872,960 |
| Land Assessment | $655,300 | Total Assessment | $3,528,260 |
Property Taxes
Parcel Number
2839-0827
Land Assessment
$655,300
Improvements Assessment
$2,872,960
Total Assessment
$3,528,260
Contacts
-
Tom Wohlgemuth -
Justin Verner -
Brooks Healy -
Kevin Landolphi -
Harbor Stone Advisors
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Tivoli Place | 3427 13th St NW
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