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5611-5615 7th St NW
Washington, DC 20011
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Stable Income-Producing Asset | Strong Physical & Economic Occupancy
- Well-Maintained Asset | Recent CapEx | Minimal Deferred Maintenance
- 0.5 Miles from the Petworth & Fort Totten Metrorail Stations | Red, Green, & Yellow Lines
- Significant Upside by Converting to Voucher Tenants | Currently All Market Rate
- Strong Operating Efficiencies | Separately Metered for Electric & Gas
Executive Summary
Feldman Ruel is pleased to offer for sale 5611-5615 7th Street NW, a 10-unit multifamily property located in the Brightwood Park neighborhood of Washington, D.C. The offering provides an investor the opportunity to acquire a well maintained, cash-flowing asset in a strong rental submarket. Brightwood Park as a submarket offers investors consistent tenant demand and good operating fundamentals. The subject property consists of one building spanning three tax parcels, totaling
approximately 7,850 square feet of gross building area and 7,524 square feet of lot area. The unit mix includes two one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units. Each unit is separately metered for both electric and gas which helps maintain lower operating expenses than comparable properties in the submarket. At this time there is one vacant unit and no pending evictions.
Offered at $1,700,000 ($170,000 per unit), 5611-5615 7th Street NW is priced well below comparable sales in Brightwood. With stable, in-place income, below market rents, and limited capital expenditure requirements, the offering provides ample upside through rent adjustments. 5611-5615 7th Street NW is also being offered as part of a portfolio sale along with 1101–1113 19th Street NE (24 units), giving investors the flexibility to purchase one or both properties and realize immediate economies of scale within high-demand Washington, D.C. neighborhoods.
approximately 7,850 square feet of gross building area and 7,524 square feet of lot area. The unit mix includes two one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units. Each unit is separately metered for both electric and gas which helps maintain lower operating expenses than comparable properties in the submarket. At this time there is one vacant unit and no pending evictions.
Offered at $1,700,000 ($170,000 per unit), 5611-5615 7th Street NW is priced well below comparable sales in Brightwood. With stable, in-place income, below market rents, and limited capital expenditure requirements, the offering provides ample upside through rent adjustments. 5611-5615 7th Street NW is also being offered as part of a portfolio sale along with 1101–1113 19th Street NE (24 units), giving investors the flexibility to purchase one or both properties and realize immediate economies of scale within high-demand Washington, D.C. neighborhoods.
Property Facts
| Price Per Unit | $170,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 7,850 SF |
| No. Units | 10 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1931 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RF-1 | ||
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,850 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | RF-1 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 8 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,145,230 | |
| Land Assessment | $1,411,670 | Total Assessment | $2,556,900 |
Property Taxes
Parcel Numbers
Land Assessment
$1,411,670
Improvements Assessment
$1,145,230
Total Assessment
$2,556,900
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