Apartment for sale in Washington - UNITED STATES

Luxury Apartment for sale in Washington, District of Columbia

Prime Investment and Development Opportunity in Washington, DC Address: 1818-1820 Benning Rd NE, Washington, DC 20002 Lot Size: 0.09 Acres Building Size: 3,215 Sq. Ft. Year Built: 1947 Unlock the potential of this exceptional property located in the vibrant and rapidly developing Street, situated within an Opportunity Zone. This unique investment offers both immediate income and significant future development possibilities, making it a standout opportunity for savvy investors. Property Overview: • 1818 Benning Rd NE: Currently leased to a Liquor store occupying approximately 1,955 sq. ft. This tenant provides a stable income stream with an existing lease in place until November 30, 2026, generating an annual rent of $45,799. • 1820 Benning Rd NE: Vacant and ready for immediate rental or owner-occupancy, with the potential to earn an additional $45,000 in annual rent. Alternatively, the space could be utilized for personal business operations, making this an ideal candidate for SBA financing. Development Potential: • The property offers a rare chance to develop a multifamily mixed-use project, with the potential for 20+ residential units combined with retail space on the ground floor. • Generate income while working through the permit process, with an opportunity to maximize returns in one of DC's most desirable areas. Location Highlights: • Proximity to H Street Corridor: Just couple blocks away from the dynamic H Street corridor, known for its vibrant atmosphere, popular conveniences like Whole Foods, and easy access to Union Station via the H Street streetcar. • Excellent Connectivity: One block from multiple Metrobus and DC Streetcar stops, with convenient access to major routes like 295 and Route 50. • Nearby Development: Surrounded by nearly 4,000 multifamily units and over 103,600 square feet of retail space, either proposed or under construction within a 1-mile radius. • Strong Demographics: Within a 2-mile radius, there are over 167,900 residents with an average household income exceeding $133,200 annually, and total consumer spending above $2.6 billion. • Retail and Cultural Amenities: Close to prominent retailers such as Aldi, Chick-fil-A, CVS, Safeway, and Starbucks, as well as cultural venues like the National Arboretum and Atlas Performing Arts Center. Investment Advantages: • SBA Financing Potential: The vacant unit offers an opportunity for owner-occupancy, making the property eligible for SBA financing. • Opportunity Zone Benefits: Situated within an Opportunity Zone, providing potential tax benefits-consult your CPA for details. • High Visibility: Located on a highly trafficked corridor with nearly 40,000 vehicles passing by daily. Seize this rare opportunity to invest in one of DC's hottest markets. Whether you're looking to develop a multifamily project or capitalize on existing rental income, this property offers endless possibilities.