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32344148
32344147

6024 8th St NW, Washington, DC 20011 For Sale

SM
MD 526147, DC SP101423 (+1)
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.
$3,499,990
71 days on market
Updated 71 days ago

6024 8th Street NW

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,200
Units 20
Cap Rate 7.05%
NOI $246,799
Tenancy Multi
Pro-Forma Cap Rate 7.67%
Pro-Forma NOI $268,440
Price per SqFt $313
Year Built 1936
Acreage 0.270

6024 8th St NW, Washington, DC 20011

Marketing description

Marcus & Millichap is pleased to present the multifamily property located at 6024 8th Street NW in Washington, D.C. At closing, this fully renovated, turnkey asset requires no deferred maintenance, providing investors with immediate ease of operation. Each unit features high-end, condo-level finishes, including quartz countertops, new kitchen cabinetry, hardwood floors, recessed lighting, and stainless steel appliances. With legal condominium documentation already in place, the property offers investors various exit strategies, such as potential individual unit sales or long-term rental income. This added flexibility can enhance both liquidity and future resale value.

Situated in the highly desirable Brightwood-Takoma neighborhood of Northwest D.C., just steps from the transformative Parks at Walter Reed redevelopment and within walking distance of the Takoma Metro Station, this property offers a strategic combination of location, quality, and investment flexibility that is increasingly rare in the District's high-barrier market. The Parks at Walter Reed is a $1.3 billion, 66-acre redevelopment of the former Walter Reed Army Medical Center into a world-class mixed-use destination. This extensive project includes over 3 million square feet of new space, which will feature residential units, a Whole Foods Market, retail shops, restaurants, office space, and the Children's National Research & Innovation Campus. In addition to its proximity to Walter Reed, the property offers excellent transit access. It is just a short walk from the Takoma Metro Station on the Red Line, providing direct connectivity to downtown Washington, Union Station, NoMa, and the Maryland suburbs. Additionally, the property is only a five-minute drive from downtown Silver Spring, Maryland, another key urban node that continues to grow with new office, retail, and multifamily developments.

Investment highlights

  • Fully Renovated Property at Closing Featuring Condo-Level Finishes
  • Located in the Brightwood-Takoma Neighborhood Near Takoma Metro Station
  • Situated Near the $1.3 Billion Parks at Walter Reed Redevelopment
  • Legal Condominium Documentation in Place, Providing Flexible Exit Strategies Including Individual Unit Sales or Long-Term Hold
  • Proximity to Downtown Silver Spring and Other Key Employment Centers

Listing Contacts

SM
MD 526147, DC SP101423 (+1)
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$246,799.00
$20,566.58/mo

Valuation Metrics

0
DSCR
7.05%
Cap Rate
7.05%
ROI

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Additional Information

Name
Brian Hosey
License
BR200201612
Brokerage
Marcus & Millichap
Brokerage Phone
202.536.3700
Title
Broker of Record
Brokerage Address
7200 Wisconsin Ave., Ste. 1101, Bethesda, MD 20814
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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