10 Unit Apartment Building
Multifamily | 10 Units
Marketing description
Realty One Group is pleased to present 501 Mellon Street SE, a 10-unit multifamily investment opportunity in Washington, DC offered through a court-supervised bankruptcy sale process.
The three-story building spans approximately 9,300 square feet and features a unit mix of seven one-bedroom units and three two-bedroom units. The property is currently vacant and requires renovation, presenting investors with the opportunity to reposition the asset through unit upgrades, improved layouts, and operational stabilization.
Each unit is self-contained and the building is serviced by electricity, gas, and water utilities. The property also includes a three-car garage, a valuable amenity that offers additional income potential through parking or storage.
The building requires capital improvements and modernization, creating a clear value-add opportunity for investors seeking to renovate, stabilize, and increase rental income. Pricing will reflect the renovation required and provides investors the opportunity to create substantial value through stabilization.
501 Mellon Street SE is located on a residential street in the Congress Heights neighborhood of Southeast DC, an area experiencing substantial public and private investment. The property sits approximately 0.6 miles from the St. Elizabeths East redevelopment, one of the largest mixed-use developments in Washington, DC.
Nearby transformative projects include St. Elizabeths East, the MLK Gateway development, and the Entertainment and Sports Arena. These projects continue to drive neighborhood reinvestment and residential demand throughout the surrounding area.
With proximity to major redevelopment projects, public transportation, and expanding neighborhood amenities, 501 Mellon Street SE presents investors with the opportunity to acquire and reposition a multifamily asset in a rapidly improving submarket.
Recent comparable sales in the surrounding Congress Heights and Anacostia submarkets suggest substantially higher values for stabilized multifamily assets of similar scale.
Additional information, financial materials, and property details are available to qualified investors upon request.
Property tours are available by appointment only. Please contact the broker for additional information.
Investment highlights
• Bankruptcy Sale Opportunity – Court-supervised process creates a rare opportunity to acquire a 10-unit multifamily property at a basis significantly below stabilized value.
• Vacant 10-Unit Building – 9,300 SF asset consisting of 7 one-bedroom and 3 two-bedroom units, allowing new ownership to execute a full renovation and lease-up strategy.
• Clear Value-Add Repositioning – Property requires renovation and modernization, creating the opportunity to significantly increase rental income through unit upgrades and stabilization.
• Parking Asset Included – Three-car garage provides additional revenue potential through parking income or storage.
• Located Near Major Redevelopment – Approximately 0.6 miles from St. Elizabeths East, a multi-billion-dollar redevelopment transforming the surrounding Congress Heights and Anacostia markets.
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