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2406, 2408, 2410 18TH Street NW

WASHINGTON, DC 20009
  • $5,995,000
  • STATUS: Active
  • ON SITE: 78 Days
  • ID#: DCDC2079816
UPDATED: 25 min ago
$5,995,000
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Information

Description

FOR SALE +GG On Behalf of the Chapter 11 Bankruptcy Trustee - Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of three fully leased retail spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,614 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel. While four of the residential units are occupied, the two vacant residential units are nearly +G+rent ready+G-. The scheduled commercial rent exceeds $22,700/month plus expenses and the scheduled residential rent exceeds $19,500/month, bringing the annual potential income to approximately $510,000. The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There+GGs multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amsterdam Falafel, Los Cuates Cantina, Isshin Asian Bistro, and many more. The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops. Adams Morgan is a +G+Walker+GGs Paradise+G- with a Walk Score of 98 and is home to 18th Street, best known for its bars, restaurants, and retailers lining the pedestrian-friendly street. Bordered by Dupont Circle to the south, Mt. Pleasant to the north, and Rock Creek Park to the west, this neighborhood is known for its active scene. Adams Morgan also offers many quiet side streets filled with townhomes, rowhouses, condos, and apartment buildings. Public transportation is plentiful, with two nearby metro stops (Woodley Park-Zoo/Adams Morgan and Dupont Circle stations on the Red Lines) and several WMATA Metrobus lines running through the neighborhood. Elevated demand for apartments, combined with the vacancy rate hitting a historic low, created record-breaking rent growth in 2021. Proximity to work, school, public transportation, and nightlife entertainment have long made Adams Morgan one of the most popular renter submarkets in the District of Columbia.All sales are subject to US Bankruptcy Court approval.

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©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Enterprises. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-03-29T08:51:13.283.
www.exitrealtyenterprises.com/homes/135892181
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2406, 2408, 2410 18TH Street NW WASHINGTON, DC 20009

  • Price: $5,995,000
  • Status: Active
  • On Site: 78 Days
  • Updated: 25 min ago
  • ID#: DCDC2079816
0
Beds
0
Baths
0
½ Baths
0.09
Acres
1900
Built
Neighborhood:
Adams Morgan
County:
Washington
Elementary School:
Oyster-Adams Bilingual School
Middle School:
Oyster-Adams Bilingual School
High School:
Jackson-Reed
School District:
District Of Columbia Public Schools
Property Description
FOR SALE +GG On Behalf of the Chapter 11 Bankruptcy Trustee - Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of three fully leased retail spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,614 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel. While four of the residential units are occupied, the two vacant residential units are nearly +G+rent ready+G-. The scheduled commercial rent exceeds $22,700/month plus expenses and the scheduled residential rent exceeds $19,500/month, bringing the annual potential income to approximately $510,000. The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There+GGs multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amsterdam Falafel, Los Cuates Cantina, Isshin Asian Bistro, and many more. The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops. Adams Morgan is a +G+Walker+GGs Paradise+G- with a Walk Score of 98 and is home to 18th Street, best known for its bars, restaurants, and retailers lining the pedestrian-friendly street. Bordered by Dupont Circle to the south, Mt. Pleasant to the north, and Rock Creek Park to the west, this neighborhood is known for its active scene. Adams Morgan also offers many quiet side streets filled with townhomes, rowhouses, condos, and apartment buildings. Public transportation is plentiful, with two nearby metro stops (Woodley Park-Zoo/Adams Morgan and Dupont Circle stations on the Red Lines) and several WMATA Metrobus lines running through the neighborhood. Elevated demand for apartments, combined with the vacancy rate hitting a historic low, created record-breaking rent growth in 2021. Proximity to work, school, public transportation, and nightlife entertainment have long made Adams Morgan one of the most popular renter submarkets in the District of Columbia.All sales are subject to US Bankruptcy Court approval.
Exterior Features

Construction Materials Brick Garage YN No Parking Types On Street Riparian Rights YN No Soil Types Unknown View CityStreet Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 14641.00 Cooling Ceiling Fan(S)Central A/C Exclusions All Tenant-Owned Personal Property Remains With The Tenant. Heating Baseboard - Hot Water Heating YN Yes Net Square Feet 11920.00

Property Features

Acceptable Financing CashConventional Accessibility Features None Assessment Year 2022 Business Type Apartment BuildingHair Salon And SpaOther/General RetailProfessionalRestaurant/Bar Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Lease Considered YN No Navigable Water YN N New Construction YN No Number Of Units Total 9 Original MLSNumber 802094285498 Ownership Interest Fee Simple Possession NegotiableSettlement Property Sub Type Mixed Use Sale Type BankruptcyThird Party Approval Sewer Public Sewer Tax Annual Amount 61930.00 Tax Assessment Amount 4817520.00 Tax Lot 353637 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileMetro/Subway Station Less Than 1 Mile Utilities Electric AvailableCable TvNatural Gas AvailableSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning Mu-5A Zoning Description MultifamilyOfficeRetailAnd Arts. Typically Located On Arterial StreetsIn Uptown And Regional CentersNear Rapid Transit

Listing courtesy of Century 21 Commercial New Millennium: .


©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Enterprises. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-03-29T08:51:13.283.
 
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