709 IRVING STREET NE

WASHINGTON, DC, 20017

$2,549,995

$311 per ft²
$2,549,995
$311 per ft²
Active
Active
 - For Sale
carpenters-square
8,190 ft²
property_type
Commercial
calendar
Built 1932
709 Irving Street NE is a 5-unit boutique apartment building that has a strong performance history through providing housing for Catholic University students and other members of the burgeoning Brookland and Edgewood communities. The building consists of four (3) bedroom units and a (7) bedroom unit and offers a turnkey 5.23% cap rate investment. The Covid-19 pandemic did not affect asset performance, vacancy or operating expenses, and in 2019 and 2020 the average gross operating income was $205,573 with an average net operating income of $139,235. The building's oversized units have a history of high occupancy rates and monthly market rents that range from $3,000 to $6,386. Complimentary off-street parking is provided for the tenants in the rear. Fully renovated less than 10 years ago, this well-maintained asset eliminates any expenditures for a new operator and is a turnkey investment with no deferred maintenance. All units are separately-metered for electricity, helping an owner control operational expenses, and tenants are responsible for all utilities except trash and recycling.
MLS® ID:
DCDC2005008
Updated:
9/25/22
TTR Sotheby's International Realty
David Park

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Central

Exterior/Building Features

Lot Size
5,159 ft² lot
Sewer
Public Sewer

School Information

School District
DISTRICT OF COLUMBIA PUBLIC SCHOOLS

Other Property Details

Taxes
$15308.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
WASHINGTON
Water Source
Public
Pool
No
Zoning
RF-1

Property History

Date
Event
Price
Value
12/2/21
Price Change
$2,549,995
-3%
TTR Sotheby's International Realty
David Park
Contact