1833 Swann StWashington, DC 20009

  • Apartment buildings
  • 5,671 SF
For Sale
$3,600,000 View listing

Property Details for 1833 Swann St

Year built
1941
Construction
BRICK
Lot size
0.08 AC
Property size (Sq ft)
5,671 SF
Zone code
RA-8
Property type
Apartment buildings
APN
0132 0828
APU
1320828

Description

This exceptional 9-unit apartment building, located in Washington, DC's coveted Dupont Circle neighborhood, presents a unique investment opportunity. The property, boasting 5,671 square feet, underwent a complete renovation in 2023, resulting in a turnkey asset ready for immediate occupancy. The two-story brick building features a mix of one and two-bedroom units, each equipped with modern amenities including all-electric systems, central A/C, stainless steel appliances, quartz countertops, LED lighting, LVT flooring, in-unit washer/dryers, and individual water heaters. Building upgrades include a new Yale Wireless Entry System, a Wi-Fi connected security system, a new TPO roof, refurbished windows, and new carpeting in common areas. Currently 100% vacant, this property offers a rare chance to establish rental rates in a highly desirable location without the complexities of existing tenants. The building's prime location offers a Walk Score of 98, placing it within easy walking distance of the Dupont Circle Metro Station (Red Line), numerous restaurants, shops, parks, and other amenities. Furthermore, the property is conveniently located near major bus routes and highways, providing excellent accessibility. The current owner has already filed the necessary documentation for potential future condominium conversion. With strong demographics and high rental potential, this property represents a compelling investment opportunity in a blue-chip location. The asking price is $3,600,000, with a price per unit of $400,000. The property sits on a 3,420 square foot lot and is zoned RA-2. This fee-simple ownership offers a stable and potentially lucrative investment.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,037,340
    6.5%
    $1,880,620
    7%
    $1,746,290
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,108,120
    Geo Method
    $1,108,120
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $3,053,360
    Retail / Commercial
    $1,558,930
    Mixed-Use / Specialty
    $1,547,990
    Hospitality / Lodging
    $1,128,720
    Office
    $1,533,200
    Institutional / Educational
    $1,607,370
    Multifamily
    $2,285,320
    Automotive / Energy
    $1,377,740
    Parking / Income-Based Land
    $480,754
    Restaurant / Food Service
    $793,651
    Healthcare / Senior Housing
    $1,592,950

Location Insight

City
Washington
County
District Of Columbia
State
DC
Latitude
38.915
Longitude
-77.0428
CBSA code
47900
CBSA name
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,125
$1,026,270
$517,860
$1,544,130
-
$1,026,270
$517,860
$1,544,130

FAQs

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