747 10Th StWashington, DC 20003

Property Details for 747 10Th St

Year built

1912

Construction

BRICK

Lot size

0.07 AC

Property size (Sq ft)

8,040 SF

Zone code

RF-1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

0950 0053

APU

9500053

Description

This exceptional 9-unit apartment building presents a rare value-add opportunity in Washington, DC's coveted Capitol Hill neighborhood. Located at 747 10th Street SE, this four-story brick building boasts 8,040 square feet on a 3,010 square foot lot, offering a diverse unit mix of three one-bedroom, two two-bedroom, and four three-bedroom apartments. Many units feature private outdoor decks, and one has a patio. The building currently has a high vacancy rate (77.7%), presenting immediate value-add potential through renovations and lease-up or a potential condo conversion. Its prime location offers a walk score of 97, with proximity to Eastern Market, Barracks Row, and the Navy Yard, providing abundant shopping, dining, and entertainment options. Convenient access to the Eastern Market and Potomac Avenue Metro stations (Blue, Orange, Silver lines), as well as major highways (I-695, I-395, I-295), and bus routes ensures excellent transit options. The strong demographics, with over 47,000 residents within a 1-mile radius and an average household income exceeding $199,624, further enhance the investment potential. The property includes three parking spaces and is zoned RF-1. Built in 1912, this fee-simple ownership opportunity offers stunning views of the Marine Barracks and Barracks Row. The building's location is ideal for various investment strategies, including market-rate rentals, voucher programs, corporate housing, student housing, and condo conversion. This is a unique chance to acquire a boutique multifamily property in a highly desirable, built-out location with significant upside.

• CAP approach

  CAP return

  Valuation

  6%

  $2,576,446

  6.5%

  $2,378,258

  7%

  $2,208,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,081,279

  Geo Method

  $2,081,279

• Alternative Use

  Use

  Valuation

  Residential

  $2,378,258

  Hospitality

  $2,178,471

  Educational

  $1,812,462

  Medical

  $1,874,796

  Retail

  $2,819,386

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.88

Longitude

-76.993

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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