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2406, 2408, 2410 18Th Street NwWashington, DC 20009MLS Number DCDC2079816

  • Price: $6,500,000
  • 19 Days on Market
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Federal 30-year interest rate: 6.13% last updated on Jan 26, 2023
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2406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 200092406, 2408, 2410 18Th Street Nw Washington DC 20009
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  • 0.09Acreage
  • 1900Year Built
  • 444Price Per Square Foot
  • 9Units
FOR SALE - On Behalf of the Chapter 11 Bankruptcy Trustee - Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of three fully leased retail spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,614 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel. While four of the residential units are occupied, the two vacant residential units are nearly “rent ready”. The scheduled commercial rent exceeds $22,700/month plus expenses and the scheduled residential rent exceeds $19,500/month, bringing the annual potential income to approximately $510,000. The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There's multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amsterdam Falafel, Los Cuates Cantina, Isshin Asian Bistro, and many more. The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops. Adams Morgan is a “Walker's Paradise” with a Walk Score of 98 and is home to 18th Street, best known for its bars, restaurants, and retailers lining the pedestrian-friendly street. Bordered by Dupont Circle to the south, Mt. Pleasant to the north, and Rock Creek Park to the west, this neighborhood is known for its active scene. Adams Morgan also offers many quiet side streets filled with townhomes, rowhouses, condos, and apartment buildings. Public transportation is plentiful, with two nearby metro stops (Woodley Park-Zoo/Adams Morgan and Dupont Circle stations on the Red Lines) and several WMATA Metrobus lines running through the neighborhood. Elevated demand for apartments, combined with the vacancy rate hitting a historic low, created record-breaking rent growth in 2021. Proximity to work, school, public transportation, and nightlife entertainment have long made Adams Morgan one of the most popular renter submarkets in the District of Columbia. All sales are subject to US Bankruptcy Court approval.
Listed by Stephanie A Young and Stephen M Karbelk, CENTURY 21 Commercial New Millennium

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Yeonas & Shafran Real Estate, LLC
Yeonas & Shafran Real Estate, LLC
Office: 703-790-3330
1309 Vincent Pl
McLean, VA 22101

More Info

Basic Information

  • Broker NameCENTURY 21 Commercial New Millennium
  • List Price$6,500,000
  • MLS NumberDCDC2079816
  • MLS Property TypeCommercial Sale
  • Price Per Square Foot444
  • StatusACT
  • Units9

Building

  • Building Area SourceEstimated
  • Building Area Total14641
  • Construction MaterialsBrick
  • Garage Spaces
  • Num Attached Garage Spaces
  • Num Detached Garage Spaces
  • Stories3
  • Total Garage And Parking Spaces
  • Year Built1900

Tax Information

  • Assessment Year2022
  • City Town Tax61930
  • City Town Tax Payment FrequencyAnnually
  • County Tax Payment FrequencyAnnually
  • Tax Assessment Amount4817520
  • Tax Lot35,36,37
  • Tax Year2022
  • Taxes$61,930
  • Total Taxes Payment FrequencyAnnually

Property

  • Acreage0.09
  • Business TypeApartment Building, Hair Salon and Spa, Other/General Retail, Professional, Restaurant/Bar
  • Lot Size SourceEstimated
  • Lot Size Square Feet4,113
  • Property SubTypeMixed Use
  • ZoningMU-5A
  • Zoning DescriptionMultifamily, office, retail, and arts. Typically located on arterial streets, in uptown and regional centers, near rapid transit

Other

  • ExclusionsAll tenant-owned personal property remains with the tenant.
  • Soil TypesUnknown

Parking

  • Assigned Parking Spaces
  • Parking TypesOn Street

Basic Information

  • Date Listed01/09/2023

Location

  • Address2406, 2408, 2410 18Th Street Nw
  • Building Number2406,2408,2410
  • CountyWashington
  • DirectionsIn Adams Morgan on 18th St., north of Florida Ave NW and south of Columbia Rd NW.
  • In City Limits YNYes
  • StateDC
  • SubdivisionAdams Morgan
  • TownWashington
  • Zip20009

Utilities

  • Central Air YNYes
  • CoolingCeiling Fan(s), Central A/C
  • Cooling FuelElectric
  • Heat SystemBaseboard - Hot Water
  • Heating FuelElectric
  • Heating YNYes
  • SewerPublic Sewer
  • UtilitiesElectric Available, Cable TV, Natural Gas Available, Sewer Available, Water Available
  • Water HeaterElectric
  • Water SourcePublic

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Copyright 2023 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Yeonas & Shafran Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated January 27, 2023. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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