Overview
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire 1454
Irving Street, NW, in Washington DC.
The multifamily property (the "Property") is located on the south side of Irving Street between 14th and 15th Streets NW in the Columbia Heights submarket of Washington DC. The Property includes a 15,030 SF building located on a 9,400 SF parcel of land zoned RA-2. The three story building, constructed in 1963, contains 21 studio and one bedroom units. There is a 12 car surface parking lot behind the building accessed from a public alley just east of the property.
Investment Highlights
• Severely supply constrained multifamily market
• Located in one of the most densely developed submarkets in Washington DC with diversified multifamily housing options
• Exceptional Metro accessibility and retail dominant location
• Submarket rents increased by 1.2% in 2024, well above the national average and reflecting of an older Inventory of units
• Priced significantly below replacement cost
• Mix of studios and one bedroom units allows for broad market acceptance
Photo Gallery
Sales Team
