1907 18th St SE, Washington, DC 20020 For Sale

The Zupancic Group of Marcus & Millichap is pleased to present 1907 18th Street SE, a 16- unit multifamily asset located in the Anacostia neighborhood of Southeast Washington, DC. Built in 1951, but recently underwent a large scale renovation, the property features a strong, high-demand unit mix well suited for both market rate and HCVP leasing strategies. The asset is positioned for operational improvements and unit turnover renovations as necessary, providing a clear path to increased cash flow. With exposure to a submarket positioned for above-average growth relative to other East of the River neighborhoods, the property presents a compelling long-term investment opportunity.

1907 18th Street SE is a 16-unit multifamily building totaling approximately 10,692 gross square feet and situated on an RA-2 zoned, 5,227 square foot lot. The unit mix consists of ten 2-bedroom units and six 3-bedroom units. Two-bedroom units average approximately 615 square feet, while three-bedroom units average approximately 715 square feet. The property currently has 14 of 16 units occupied. The landlord presently pays for utilities, and the property features central building systems. The roof was recently renovated and features solar panels. Units feature in-unit washer and dryers, a highly desirable amenity that supports leasing velocity and rent growth. The asset is well suited for light interior upgrades to further enhance rental demand and increase cash flow. The combination of a strong unit mix and limited near term reconfiguration needs allows a new owner to focus on executing a straightforward restabilization strategy.

1907 18th Street SE is poised to reap ongoing benefits from the dynamic development landscape in its vicinity. Notably, it stands to gain directly from the growth of Skyland Town Center, as well as the continuous expansion of the surrounding Anacostia neighborhood which has seen a surge in restaurants and retail establishments, including renowned names such as Capital One Cafe, Busboys and Poets, and Starbucks, all contributing to the thriving culinary and shopping scene in Southeast DC. Less than half a mile or a 10-minute walk from the property lies Skyland Town Center, slated to become the largest retail hub in Southeast Washington, DC. Recent highlights of this development include eagerly awaited retail openings like Lidl, CVS Pharmacy, Chase Bank, Roaming Rooster, &pizza, Mezeh, Starbucks, Tropical Smoothie Cafe, and Jersey Mike's. The Crest, a complex featuring ground-floor retail and 263 multifamily units, made its debut in 2021. When fully realized, this 18-acre development will encompass over 137,000 square feet of retail space and more than 450 residential units, further enhancing the vibrancy of the area