i5 Union Market — Sale in Washington, DC

  • Price: $173K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Washington, DC 20002
  • Size: 9,632 SF
  • Year built: 2019

Photos

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Description

JLL is pleased to present i5 Union Market (the “Property”), a 318-unit trophy mixed-use asset located in the heart of Union Market. This unique asset contains a mixture of co-living and conventional apartments allowing the ability to achieve higher overall rents, and features 9,632 SF of retail space that is 100% leased by Orangetheory, Eunoia/Toolbox Pilates, Saladworks, and Status Archive. With no other properties offering a mix of co-living and conventional units in Union Market or NoMa, the unique densification of i5 Union Market provides renters with optionality for a full apartment or co-living bedroom while providing the owner maximized rent PSF. The Property’s strategic location on Florida Avenue offers incredible frontage to the main Union Market thoroughfare and is a 2-minute walk to the NoMa-Gallaudet (Red Line) Metro station. With no future supply currently under construction for the Union Market submarket, i5 Union Market benefits from an environment that supports sustained rent growth and occupancy. The Property is adjacent to Trader Joe’s and walkable to Whole Foods and Harris Teeter. In addition, the Property is a short walk to two Michelin rated restaurants, Elcielo and Masseria. Surrounded by 339K SF of premier restaurants and lifestyle amenities in DC’s renowned cultural and culinary hub, the Property is a short walk to the vibrant La Cosecha Latin American marketplace, over 40 local restaurants and shops at Union Market. Residents benefit from direct access to Route 50 via New York Avenue, allowing convenient vehicular access to the greater Washington, DC region. Additionally, the Property is steps from over 12 million SF of office space in Noma, and is minutes from over 100 million SF of downtown DC office space. i5 Union Market features an impressive amenity package and state-of-the-art apartment finishes. The Property embodies trophy product with reliable in-place cash flow and immense upside in one of the most core submarkets in the Distric

Market Context

This multifamily in Washington, DC is listed for sale at $173,355 across 9,632 SF. The building dates to 2019. Compare it against other multifamily listings for sale in Washington, DC — view the full market.

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