1731 28th Street SE

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Address: 1731 28th St SE, Washington, DC 20020, USA
Created date: January 13, 2025
Date last updated: January 31, 2025
  • THE OPPORTUNITY
  • L’Enfant Apartments is a 25-unit property situated in the highly desirable Hillcrest neighborhood. The Property presents significant revenue growth potential with minimal capital expenditure requirements, offering investors a prime opportunity to enhance returns and maximize value through strategic revenue improvements.
  • WELL-MAINTAINED ASSET WITH SUBSTANTIAL IMPROVEMENTS
  • The Property has been meticulously maintained, with over $430,000 invested in capital improvements over the past decade. These
  • enhancements ensure the asset is ready for immediate ownership with minimal deferred maintenance. Major upgrades include an
  • electrical heavy-up completed in August 2024, a new roof installed in 2019 with an active warranty, and a full window replacement in 2015.
  • SURROUNDED BY TRANSFORMATIVE REDEVELOPMENT
  • L’Enfant Apartments is perfectly positioned to benefit from the extensive redevelopment occurring in the surrounding area. Major
  • projects such as MLK Gateway, Reunion Square, the 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 retail. These developments will significantly enhance the
  • neighborhood’s appeal, increasing demand among renters and elevating the Property’s investment potential.
  • REVENUE GROWTH OPPORTUNITIES
  • The Property’s current rents are approximately 20% below market rates, presenting a compelling opportunity to align with
  • market trends and achieve significant revenue growth. This rent upside positions the asset for immediate and sustained income
  • enhancement.
  • VALUABLE RESIDENT AMENITIES WITH ADDITIONAL REVENUE POTENTIAL
  • Featuring 10 off-street parking spaces, the Property offers a desirable amenity for residents while also creating an opportunity
  • to generate additional revenue. This combination enhances both the appeal and profitability of the asset.
  • LOCATED WITHIN AN OPPORTUNITY ZONE
  • Strategically located within a designated Opportunity Zone, this property offers investors not only substantial growth potential but
  • also the opportunity to take advantage of significant tax incentives under the Opportunity Zone program. These benefits include the
  • potential to defer or eliminate capital gains taxes, making it an exceptional choice for investors seeking to enhance returns while
  • contributing to the economic revitalization of the area.

Property Description

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Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 25
Year Built: 1939
Lot Size: 1.00 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 1731 28th Street SE, Washington, DC 20020, USA
Provided by:

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