2920 ONTARIO RD NW Washington DC 20009-2225

Horvath & Tremblay is pleased to present the exclusive sale of 2920 Ontario Road NW, a 100% vacant multi-family building in shell condition in Washington, DC (the “Property”). Located in between the Adams Morgan and Mt. Pleasant neighborhoods of Northwest Washington, DC, the Property is situated at the intersection of Ontario Road NW and Clydesdale Place NW and is a short walk from a number of prominent commercial corridors including: Columbia Road NW, Mt. Pleasant Street NW, 18th Street NW, and Connecticut Avenue NW. The Property is steps from the Smithsonian National Zoo. The asset is proximate to a good number of public and charter schools, as well as major DC highways and the Columbia Heights & Woodley Park- Zoo/Adams Morgan Metro Stations, which are both 0.6-miles away.

The Property consists of a 100% vacant four-story (including a partial cellar level with utilities), fully detached, brick building with a certificate of occupancy for thirty-six (36) apartment units. The subject property has 31,229 square feet of gross building area and sits on an 11,302-squarefoot RA-2 zoned parcel. The building offers the possibility of expansion to approximately 43,556 square feet of gross building area through the build out of a penthouse level and the extension of the partial cellar to encompass the entire lower level. Also, the building’s location in between the Adams Morgan and Mt. Pleasant neighborhoods is expected to consistently drive rental demand and cause the asset, upon renovation, to serve as a reliable and appreciating investment for years to come.

BLUE CHIP NORTHWEST DC LOCATION

The Property is located in between Washington DC’s Adams Morgan and Mt. Pleasant neighborhoods. The Property is just steps away from the Smithsonian National Zoo and is a short walk from both the Columbia Heights and Woodley Park-Zoo/Adams Morgan Metro Stations, which are both 0.6-miles away Metro with service on the green and red lines. The Property provides convenient access to area shopping and dining along Columbia Road NW and 18th Street NW, prominent retailers in the immediate area include Safeway, CVS, 7-Eleven, Starbucks, and countless bars and restaurants lining 18th Street NW. 2920 Ontario Road NW also provides proximity to a wide array of public and charter schools, and public transportation options. The Property is 1.2-miles from US Highway 29, 2-miles from US Route 1, 3-miles from US Highway 50 and Interstate 395, and 2-miles from Downtown Washington, DC.

VARIOUS POSSIBLE REDEVELOPMENT STRATEGIES

The property is a fully vacant “shell”, which creates an opportunity for investors, developers, and groups/institutions to explore multiple redevelopment scenarios including high-end market rate rental, condo-conversion, co-living, affordable housing (HCVP), or other housing models. A prospective purchaser can truly “build-to-suit” their preferred investment model.

100% VACANT & FULLY-DETACHED ASSET

The asset is four stories with a partial cellar level that can potentially be dug out to create a full lower level, and is fully vacant. The building has already been gutted. Situated at the end of the block at the intersection of Ontario Road and Clydesdale Place, the building is surrounded by windows to promote significant amounts of sunlight. Each level features between 9 to 10 foot ceilings.

HEAVIED-UP & SEPARATELY METERED FOR ELECTRIC & GAS

The current owner has already improved the utilities to the building by installing new separate meter sockets for both electric and gas as well as new 2 PSIG piping connections for the gas. The electrical service is 2,000 AMP, three-phase service for the entire building.

WALKABLE LIFESTYLE – WALK SCORE: 94

2920 Ontario Road NW is centrally located to public transit and two metros (Woodley Park-Zoo/Adams Morgan Metro – Red Line & Columbia Heights – Green/ Yellow Lines), retail, restaurants, cafes, gyms, grocery stores, and public parks, including steps from Rock Creek Park. The property features a Walk Score of 94, which is considered a “Walker’s Paradise”.

STRONG DEMOGRAPHICS

More than 81,400 people live within a 1-mile radius of the Property with an average household income of $210,696. 2920 Ontario is technically located in Lanier Heights, a neighborhood with less than 5,000 residents within its boundaries, but is located directly adjacent to Adams Morgan, Mt. Pleasant, and Columbia Heights, three in-demand Northwest DC neighborhoods. Per Niche.com, the median household income in Lanier Heights in 2023 was $131,247 and over 80 percent of residents have at least a college degree.