Property Listing No Longer Available for Sale

1015 24th Street, Washington, DC

Multi-family for Sale - $6,000,000 - 7,844 Sq. Ft. on 0.08 acres


Property Info

CIMLS#1059098
Location
  1015 24th Street
  Washington DC 20037
UpdatedMay 5th, 2020
TypeMulti-family
Price$6,000,000
Building7,844 Sq. Ft.
Land0.08 acres

Property Description

PRINCIPLES ONLY

The Milam Group at Marcus & Millichap, on behalf of ownership is pleased to exclusively list for sale The Washington Circle Portfolio is located at L & 24th St NW and L & 23rd. Three of the buildings are conjoined - 2324 L St NW, 2326 L St NW, and 1015 24th St NW. Each of the three properties is two stories with a garden story, contains two units – one one-bedroom / one-bathroom unit and one two-bedroom / two-bathroom two-level duplex. 2324 & 2326 L St NW are approximately 1,200 SF each. 1015 24th St NW is larger, containing 1,392 SF; each lot is about 575 SF. 1010 23rd St is a mix of one and two-bedroom units, containing 4,032 SF, and occupies a lot space of 1,833 SF. All properties are zoned RA-2 for areas developed with moderate-density residential permitting 1.8 FAR for development.

There are four Metro Stations within one-half mile – Foggy Bottom/GWU, Farragut North, Farragut West, and Dupont Circle – providing exceptional access to mass transit. George Washington University, George Washington University Hospital, and The World Bank are all within one-half mile. The West End/Foggy Bottom has a sophisticated feel with it’s proximity to a major institution of higher education – George Washington University, hubs of diplomacy – The World Bank, International Monetary Fund (IMF) and the State Department, The John F. Kennedy Center for the Performing Arts, numerous luxury hotels, upscale condominiums, fine dining restaurants. This makes the neighborhood home to many students, young professionals, and wealthy retirees.

This grouping of buildings gives an investor an opportunity to acquire an asset in one of the hottest neighborhoods in Washington, DC. Whether you maintain the units as income producing rentals, cater to the student market, convert to condos, etc., this portfolio offers an investor numerous exit strategies.