Multifamily Property for Sale in Washington, DC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Washington, DC 20001

Description

Marcus & Millichap is pleased to exclusively present Shaw Duo, a portfolio sale of two fully renovated four-unit apartment buildings located at 1500 Columbia Road NW (4 -3BR/2 BA) and 543 Florida Avenue NW (4 -2 BR/1 BA) in the highly desirable Columbia Heights / Shaw submarket of Northwest Washington, D.C. The offering represents a rare opportunity to acquire two renovated, multifamily assets with strong in-place cash flow, multiple exit strategies, and long-term appreciation upside in one of the District’s most resilient rental markets. The portfolio consists of eight total units across two separately metered buildings, offering buyers flexibility to acquire individually or as a combined investment. Both assets have undergone substantial renovations, including modernized interiors and upgraded building systems, reducing near-term capital expenditure risk and providing immediate operational stability. From a financial standpoint, the properties deliver attractive going-in cap rates ranging from approximately 6.99% to 7.39%, with NOI of approximately $271,000 combined, and strong Debt Coverage Ratios (1.30x–1.38x). Shaw Duo offers strong in-place income, and market-supported rent growth in a low vacancy submarket. A Proforma CAP rate of 8.81% for 1500 Columbia Road and a 9.53% CAP rate for 543 Florida Avenue NW. These four-unit buildings also present an exceptional opportunity for owner-occupants seeking to offset housing costs through rental income. FHA financing is available for qualified buyers, significantly expanding the buyer pool. In high-cost markets such as Washington, D.C., the 2026 FHA loan limit for a four-unit property is approximately $2.4 million, allowing buyers to acquire these assets with low down payment requirements while benefiting from market-rate rents. With close proximity to Howard University, this opportunity is also well-suited for parents purchasing housing for a student while renting the remaining units to fellow students or young profe

Market Context

This multifamily in Washington, DC is listed for sale. It is offered at an approximate 2.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Washington, DC — <a href="/search/sale/multifamily/district-of-columbia/washington">view the full market</a>.

As of Q3 2017, the Washington D.C. multifamily market showed a 3.7% vacancy rate, rents up 6.7% year over year, and cap rates around 5.7%. Source: Cushman & Wakefield Q3 2017 market report.

Its 2.7% asking cap rate is below the Washington D.C. multifamily market average of about 5.7%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Washington D.C.?
About 5.7% as of Q3 2017, per Cushman & Wakefield.
Is the Washington D.C. multifamily market tightening or softening?
Vacancy is around 3.7%, with asking rents rising year over year (Q3 2017).

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