Martin's View - Availability Details
205 Elmira St SW, Washington, DC 20032
- For Sale Investment Opportunity
- City Washington
- Neighborhood Bellevue
- Zip Code 20032
- Market Washington DC Suburban Maryland
- Property Type Multi-Family
- Property Size 107,360 Sqft
- Date Updated 29 May, 2021
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Reach out to the broker for more info on lease terms and amenities
W. Kyle Tangney
- Renovated Units - Since acquiring the Property in 2018 ownership has renovated 71 of the 156 units, or 46% of all units.
- Access to National Harbor - The Property is located less than 10 minutes from National Harbor, offering residents access to high-quality jobs, shopping, entertainment, and dining.
- Favorable Unit Mix - Among the 156 units at the Property there are 43 two-bedroom and 13 three-bedroom units. These larger units are attractive for renters seeking family-oriented accommodations and collect higher rental revenues.
- Access to St. Elizabeth’s Hospital Redevelopment - The Property is located less than 10 minutes from the St. Elizabeth’s Hospital redevelopment (see page 16).
- Value-Add Potential - The average effective rent at the Property is $1,049 which is 33% lower than the average HCVP rent in the Congress Heights neighborhood. New ownership can create value by biting into this loss-to-lease over time.
- Subject to Loan Assumption - This offering is subject to a loan assumption. The $9.504MM loan is interest-only through December 2020 at a 4.11% fixed rate. The 10-year loan runs through Dec. 1, 2027.
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W. Kyle Tangney