700 Quincy StWashington, DC 20017

Property Details for 700 Quincy St

Year built

2021

Property size (Sq ft)

12,500 SF

Property type

Apartment buildings

Description

This exceptional 7-unit apartment building, completed in 2021, presents a compelling investment opportunity. Located at 700 Quincy St NE, Washington, DC 20017, this Class-A property boasts 12,500 square feet, with 9,920 square feet of net rentable space. The building features three stories and is situated on a single lot (APN 3819/0017) within the RA-1 zoning district. All seven units are currently 100% occupied by tenants participating in the Housing Choice Voucher Program, guaranteeing consistent rental income. Each unit includes a washer and dryer. The property's proximity to the Catholic University of America campus ensures a steady stream of potential tenants, while the newer construction minimizes deferred maintenance, maximizing long-term return potential. The building's strong financial performance is reflected in its $3,491,872 asking price, $279.35 price per square foot, $218,242 pro-forma NOI, and a 6.25% pro-forma cap rate. The large bedroom count in some units lends itself to shared-living arrangements. A short walk to the Brookland-CUA Metro station provides convenient access to public transportation. This is a turnkey investment opportunity with significant upside potential.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.9385

Longitude

-76.9947

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