1721 T Street SE

• SURROUNDED BY REDEVELOPMENT
• The Property is perfectly positioned to capitalize on the area’s growth. Nearby projects such as MLK Gateway, Reunion Square,
• 11th Street Bridge Park, Skyland Town Center, and Barry Farms are set to deliver over 3 million square feet of office space and
• 275,000 square feet of new retail. This downtown location will be in high demand among both future renters and savvy investment professionals alike.
• IMMEDIATE VALUE-ADD OPPORTUNITY
• Twelve of the twenty units are currently vacant, allowing new ownership to quickly implement their value-add plan immediately
• upon acquisition. This allows new ownership to stabilize the asset earlier in its investment cycle, thereby increasing cash yields and potentially allowing a quicker cash-out refinancing.
• FUTURE DEVELOPMENT POTENTIAL
• Current ownership has completed significant feasibility studies in pursuit of adding additional density to the site. Preliminary
• architectural drawings, which were recently completed by the owner and are available to new ownership, demonstrate the opportunity to add 10 units to the Property and improving the unit mix to 1 efficiency unit, 14 one-bedroom units, 11 two-bedroom
• units and 4 three-bedroom units allowing new ownership to create significant value in the future without any immediate commitment to doing so.
• REVENUE IMPROVEMENT OPPORTUNITY
• Market rents, as indicated by the D.C. Housing Authority’s neighborhood rent levels and Rent Reasonable software, increased significantly on July 1, 2023 with the passage of the new Rent Reasonable rent-setting standards. Current (as of 10/17/23 rents indicated a 40% increase for one-bedroom units, 4% increase for two-bedroom units, and 7% increase for three-bedroom
• units allowing new ownership the opportunity to benefit from recent rent growth.

Property Description

1721 T Street SE is a 20-unit apartment community made up of nine one-bedroom and eleven two-bedroom apartments located in the Randle Heights neighborhood of SE Washington, D.C. The Property’s high vacancy and location in the path of development makes an ideal value-add opportunity.