3709 New Hampshire AveWashington, DC 20010
- High-rise multifamily apartments
- 22,920 SF
Property Details for 3709 New Hampshire Ave
- Year built
- 2021
- Construction
- BRICK
- Property size (Sq ft)
- 22,920 SF
- Zone code
- NC-8
- Property type
- High-rise multifamily apartments
- APN
- 3030 7000
- APU
- 30307000
Description
This exceptional Class A mixed-use property, built in 2022, offers 17 spacious three-bedroom, two-bathroom apartment units, ranging from 945 to 1,095 square feet, and a 3,400 square foot ground-floor retail space. The 22,920 square foot building sits on a 4,674 square foot lot zoned NC-8 and boasts high-end finishes including wood grain flooring, in-unit washer/dryer, recessed lighting, gloss cabinets, Silestone countertops, and polished chrome fixtures. Residents enjoy a rooftop lounge and other communal spaces. Located at 3709 New Hampshire Ave NW, Washington, DC 20010, this property benefits from its prime location in the Petworth neighborhood, directly across from the Georgia Ave-Petworth Metro Station. The building is currently vacant, presenting an opportunity to lease units at market rates, maximizing income potential. The asking price is $7,100,000, with a price per square foot of $309.77. This turnkey asset offers significant potential for long-term growth and profitability due to its location, high-end features, and lack of rent control. The property's Walk Score is 96, Transit Score is 70, and Bike Score is 90, reflecting its convenient and accessible location. This is a rare opportunity to acquire a non-rent controlled, Class A property in a thriving urban area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $8,234,140
- 6.5%
- $7,600,750
- 7%
- $7,057,840
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,478,610
- Geo Method
- $4,478,610
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $12,340,500
- Retail / Commercial
- $6,300,580
- Mixed-Use / Specialty
- $6,256,400
- Hospitality / Lodging
- $4,561,830
- Office
- $6,196,600
- Institutional / Educational
- $6,496,370
- Multifamily
- $9,236,370
- Automotive / Energy
- $5,568,310
- Parking / Income-Based Land
- $1,943,020
- Restaurant / Food Service
- $3,207,630
- Healthcare / Senior Housing
- $6,438,100
Location Insight
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Latitude
- 38.9367
- Longitude
- -77.0237
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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