700 QUINCY ST NE, Washington, DC 20017 – DCDC2162536

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Joseph Lam

Turn Key Group at REAL Brokers

sales@soldbyturnkey.com +1(856) 305-8329

$2,829,000

Est. payment - /mo

12,500 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 12,500 sqft

Price per Sqft $226

MLS Listing ID DCDC2162536

Originating Board BRIGHT

Year Built 2021

Annual Tax Amount $8,328

Tax Year 2024

Lot Size 7,557 Sqft

Acres 0.17

Property Sub-Type Five Or More Units

Property Description

* 100% Leased
* New construction—completed in 2021
* HCVP tenants—guaranteed rent
* Short walk to Brookland-CUA Metro
* Add back in-house prop. mgt. fee--NOI increases to $212,676

Quincy St. Apartments is a new construction (2021), Class-A style 7-unit multifamily building, with washer/dryer in each unit. All tenants participate in the Housing Choice Voucher Program, offering mutual benefits: Tenants can rent in private market, and landlords get guaranteed rent.
The new construction means minimal to no deferred maintenance, providing a benefit to investors from a property in excellent condition, increasing its appeal and potential for long-term returns.
In addition, the proximity to Catholic University of America campus means a steady supply of students seeking access to walkable housing. The large bedroom count in some of the units would be perfect for a shared-living concept.
Before selling, the Landlord must provide the Tenants with an Offer of Sale, regardless of whether a Third Party contract is already in place. Only an incorporated Tenant Organization may exercise the right to purchase a property with 5 or more units. A statement of interest has to be made within 45 days of receipt of the Offer of Sale.
Confidential P&L and rent roll available to qualified investors upon signing of confidentiality agreement. See link on page 4 of offering memorandum in documents section.

Location

State DC

County Washington

Zoning RA-1

Interior

Hot Water Electric

Heating Other

Cooling Other

Heat Source Electric

Exterior

Garage Spaces 2.0

Water Access N

Accessibility Other

Total Parking Spaces 2

Garage N

Building

Sewer Public Sewer

Water Public

New Construction Y

Schools

Elementary Schools Brookland Education Campus At Bunker Hill

Middle Schools Brookland Education Campus At Bunker Hill

High Schools Roosevelt High School At Macfarland

School District District Of Columbia Public Schools

Others

Tax ID 3819//0017

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Listed by Geoffrey G Lindsay • Capital Realty Advisors

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Joseph Lam

+1(856) 305-8329

Broker Associate | License ID: 0682262

Broker Associate License ID: 0682262

700 QUINCY ST NE Washington, DC 20017

Joseph Lam

Key Details

Location

Interior

Exterior

Building

Schools

Others

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700 QUINCY ST NE