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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

Contacts

broker

W. Kyle Tangney

Greysteel

(202) 280-2730

Highlights

  • 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.

Attachments

Contact Listing Broker

broker

W. Kyle Tangney

Greysteel

(202) 280-2730

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