913 Bellevue Street Se — Sale in Washington, DC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Washington, DC 20032

Description

The Opportunity Marcus & Millichap is pleased to present 913 Bellevue Street SE, a 15-unit multifamily asset located in Congress Heights, Washington, DC. The property is highly vacant, as 13 of the 15 units are currently unoccupied, providing an investor with immediate control over lease-up strategy and allowing for immediate enhancements to be made to units to maximize rent potential. The asset was previously renovated and is expected to require primarily cosmetic improvements to reach stabilization. The sale is being conducted through a receivership process and is TOPA exempt, providing a clear and efficient path to closing. With an optimal unit, high vacancy, and a predictable path to closing, the property presents a unique value-add opportunity in a neighborhood undergoing sustained public and private investment. The Asset 913 Bellevue Street SE is a 15-unit multifamily building totaling 12,027 gross square feet across two stories plus a large basement and situated on an 11,813 square foot lot. The rare, attractive unit mix consists of 12 three-bedroom units and three studio units, a configuration that requires minimal to no reconfigurations of units for an investor, allowing for a direct focus on cosmetic upgrades or potential capital expenditures. The property currently has 13 of 15 units vacant (87% vacancy), and the two occupied units are leased at monthly rents of $1,893 and $2,089. Units are self-contained and feature electric HVAC and electric water heating systems, with 100 amps of electrical service per unit. Tenants are responsible for all utilities except water, sewer, and common area electric, limiting unpredictable expenses for the owner. The asset includes a large surface parking lot with 11 parking spaces, providing a desirable amenity and potential competitive advantage within the submarket for the long term. The Location Located in Congress Heights, 913 Bellevue Street SE is positioned for continued appreciation in value and rent growth. The pro

Market Context

This multifamily in Washington, DC is listed for sale. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Washington, DC — view the full market.

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