1958 19th Place SE

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Address: 1958 19th Pl SE, Washington, DC 20020, USA

Washington DC + Apartment Buildings

Created date: June 17, 2024

Date last updated: August 21, 2024

WELL-MAINTAINED ASSET
Renovated down to the studs, the property underwent a complete renovation in 2016. Due to the renovation scope new ownership gains the benefit of significant capital expenditures already complete, minimizing the need for future renovations.
50% VACANT, IMMEDIATE REPOSITION POTENTIAL
With 7 out of 14 units currently vacant, this Property offers significant flexibility for immediate repositioning and value creation. While subject to TOPA, the high vacancy rate provides buyers with an excellent opportunity to maximize its potential quickly.
ADJACENT TO BRAND NEW CCPREP ACADEMY
Adjacent to the Community College Preparatory Academy, which is set to open in late 2024, this Property is poised to benefit significantly from the academy’s presence. The academy offers an innovative and rigorous educational environment tailored to under-credited adults who have aged out of the traditional K-12 public education system. Its presence will enhance the neighborhood by creating a professional atmosphere and supporting the community’s educational needs.
QUALIFIED OPPORTUNITY ZONE INVESTMENT
Located in a designated Opportunity Zone, this property offers potential tax benefits, including deferral and reduction of capital gains on exit, making it an attractive investment opportunity.
WARD 8 EPICENTER
Nestled in the vibrant heart of Downtown Randle Heights, this property enjoys a strategic location across from the Anacostia Library, adjacent to a major Ward 8 artery, and less than a mile from the new Skyland Town Center development. Boasting such a prime position, it offers unparalleled access to transportation, regional employers, lifestyle amenities, and entertainment options, rendering it exceptionally appealing to prospective renters.
ABOVE-AVERAGE SQUARE FOOTAGE
The units in this building are larger than typical units in the neighborhood and surrounding areas. The additional square footage provides new ownership with the flexibility to implement various value-added strategies, such as converting one-bedroom units into two-bedrooms and two-bedroom units into three-bedrooms, potentially increasing returns on investment.

Property Description

THE OPPORTUNITY Located in the thriving Randle Heights neighborhood, this Property presents an exceptional value-add opportunity for investors. With the area undergoing significant redevelopment and a robust demand for rental housing, this property is well-positioned for substantial long-term appreciation.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
No. of Units:	14
Year Built:	1963
Lot Size:	0.26 Sq ft
Opportunity Zone:	No
Property Website	Click Here