700 QUINCY ST NE Washington, DC 20017
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 12,500 sqft
Price per Sqft $226
MLS Listing ID DCDC2162536
Year Built 2021
Annual Tax Amount $8,328
Tax Year 2024
Lot Size 7,557 Sqft
Acres 0.17
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
* New construction—completed in 2021
* HCVP tenants—guaranteed rent
* Short walk to Brookland-CUA Metro
* Add back in-house prop. mgt. fee--NOI increases to $212,676
Quincy St. Apartments is a new construction (2021), Class-A style 7-unit multifamily building, with washer/dryer in each unit. All tenants participate in the Housing Choice Voucher Program, offering mutual benefits: Tenants can rent in private market, and landlords get guaranteed rent.
The new construction means minimal to no deferred maintenance, providing a benefit to investors from a property in excellent condition, increasing its appeal and potential for long-term returns.
In addition, the proximity to Catholic University of America campus means a steady supply of students seeking access to walkable housing. The large bedroom count in some of the units would be perfect for a shared-living concept.
Before selling, the Landlord must provide the Tenants with an Offer of Sale, regardless of whether a Third Party contract is already in place. Only an incorporated Tenant Organization may exercise the right to purchase a property with 5 or more units. A statement of interest has to be made within 45 days of receipt of the Offer of Sale.
Confidential P&L and rent roll available to qualified investors upon signing of confidentiality agreement. See link on page 4 of offering memorandum in documents section.
Location
State DC
County Washington
Zoning RA-1
Interior
Hot Water Electric
Heating Other
Cooling Other
Heat Source Electric
Exterior
Garage Spaces 2.0
Water Access N
Accessibility Other
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
Elementary Schools Brookland Education Campus At Bunker Hill
Middle Schools Brookland Education Campus At Bunker Hill
High Schools Roosevelt High School At Macfarland
School District District Of Columbia Public Schools
Others
Tax ID 3819//0017
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
1425 Clarkview Rd, Baltimore, MD, 21209, USA
Hope Greenlee is a seasoned Realtor with 17 years of experience in the real estate industry. She hails from Baltimore County, is a proud graduate of Parkville High School, and pursued a business degree in Pittsburgh, Pennsylvania. With a background as a Multi-Site Property Manager spanning over two decades across Maryland, Hope has honed her skills and expertise in various facets of real estate. She is a devoted mother to five children and a passionate, market-savvy professional who prioritises her clients' satisfaction and best interests above all else. Hope's approach is characterised by professionalism, patience, and unwavering loyalty, ensuring a seamless and satisfying real estate experience. She is now part of The Breeden Group of Berkshire Hathaway Homesale Realty.
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