1472 Newton Street NW

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Address: 1472 Newton St NW, Washington, DC 20010, USA
Created date: July 9, 2024
Date last updated: July 10, 2024
  • METICULOUSLY MAINTAINED ASSET
  • 1472 Newton has been meticulously maintained by the owner and his team for the better part of fifteen years. Recent capital expenditures include:
  • • Keyless entry systems
  • • Comprehensive security camera system
  • • Recently Replaced Roof (3.5 years old)
  • • Boiler: Recently Replaced Expansion Tank and Pump (3.5 Years)
  • • New Electric Panels within Units (Less than 1 Year)
  • ADDITIONAL REVENUE OPPORTUNITIES
  • 1472 Newton has a large six-car parking lot located through the breezeway of the building. Parking spaces are not included in leases and current ownership only charges $18/month for parking. New ownership could capture a premium for parking in this area, with spaces leasing for over $200/space in Columbia Heights. New ownership also could also add another washer and dryer to the property (only one of each currently in the Property) which would substantially increase laundry income as some tenants opt to use laundromats due to unavailability of machines.
  • SUSTAINED RENTAL DEMAND
  • Ownership has consistently been able to consistently sustain rental demand for the duration of their hold, speaking to the quality of the units and maintenance team. Ownership recently had one vacancy come online as of mid-June, and already has five inquiries to lease the unit simply from resident referrals.
  • SUPERIOR TRANSIT OPTIONS AND WALKABILITY
  • 1472 Newton Street NW, Washington, D.C. is highly rated for its walkability and access to public transit:
  • • With an exceptional Walk Score (97) and Bike Score (91), this area is considered a “Walker’s Paradise,” where most daily errands can be done on foot. Grocery Stores such as Harris Teeter (0.8 mi), Safeway (0.8 mi), Giant (0.3 mi), and Target (0.4mi) are all located less than a mile away from the Property
  • • The location has “Excellent Transit,” with numerous nearby bus routes, including the H2 and H4 lines running across town. The Metro Green and Yellow lines at the Columbia Heights station are also easily accessible, being located 0.3 miles away

Property Description

THE OPPORTUNITY 1472 Newton Street is a low-rise apartment community consisting of 11 efficiency units located in Columbia Heights, and just two blocks away from the historic Mount Pleasant neighborhood. The property is fully stabilized with one vacancy that ownership is holding for showing purposes only, giving new ownership the opportunity to step into a cash-flowing asset with no collection loss or outstanding capital expenditure needs.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 11
Year Built: 1964
Lot Size: 0.09 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 1472 Newton Street NW, Washington, DC 20010, USA
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