Skip To Content

709 Irving Street NE

WASHINGTON, DC 20017
  • $2,650,000
  • STATUS: Active
  • ON SITE: 129 Days
  • ID#: DCDC2005008
UPDATED: 31 min ago
$2,650,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1932
County:

School Ratings & Info

Description

709 Irving Street NE is a 5-unit boutique apartment building that has a strong performance history through providing housing for Catholic University students and other members of the burgeoning Brookland and Edgewood communities. The building consists of four (3) bedroom units and a (7) bedroom unit and offers a turnkey 5.23% cap rate investment. The Covid-19 pandemic did not affect asset performance, vacancy or operating expenses, and in 2019 and 2020 the average gross operating income was $205,573 with an average net operating income of $139,235. The building's oversized units have a history of high occupancy rates and monthly market rents that range from $3,000 to $6,386. Complimentary off-street parking is provided for the tenants in the rear. Fully renovated less than 10 years ago, this well-maintained asset eliminates any expenditures for a new operator and is a turnkey investment with no deferred maintenance. All units are separately-metered for electricity, helping an owner control operational expenses, and tenants are responsible for all utilities except trash and recycling.

Monthly Payment Calculator



©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Ocean City. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-30T08:50:34.64.
www.exitrealtyoc.com/homes/119663741
Print Image

709 Irving Street NE WASHINGTON, DC 20017

  • Price: $2,650,000
  • Status: Active
  • On Site: 129 Days
  • Updated: 31 min ago
  • ID#: DCDC2005008
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1932
Built
County:
Washington
School District:
District Of Columbia Public Schools
Property Description
709 Irving Street NE is a 5-unit boutique apartment building that has a strong performance history through providing housing for Catholic University students and other members of the burgeoning Brookland and Edgewood communities. The building consists of four (3) bedroom units and a (7) bedroom unit and offers a turnkey 5.23% cap rate investment. The Covid-19 pandemic did not affect asset performance, vacancy or operating expenses, and in 2019 and 2020 the average gross operating income was $205,573 with an average net operating income of $139,235. The building's oversized units have a history of high occupancy rates and monthly market rents that range from $3,000 to $6,386. Complimentary off-street parking is provided for the tenants in the rear. Fully renovated less than 10 years ago, this well-maintained asset eliminates any expenditures for a new operator and is a turnkey investment with no deferred maintenance. All units are separately-metered for electricity, helping an owner control operational expenses, and tenants are responsible for all utilities except trash and recycling.
Exterior Features

Construction Materials Combination Garage YN No Parking Types Parking Lot Riparian Rights YN No Soil Types Urban Land-Sassafras-Chillum Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 8190.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 6866.00

Property Features

Accessibility Features None Assessment Year 2020 Association YN No Business Type Apartment Building Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Navigable Water YN N New Construction YN No Number Of Units Total 5 Original MLSNumber 800863054842 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 13874.00 Tax Assessment Amount 1800970.00 Tax Lot 32 Vacation Rental YN No Water Source Public Zoning Rf-1

Listing courtesy of Ttr Sotheby's International Realty.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Ocean City. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-30T08:50:34.64.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_800863054842-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_800863054842-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_800863054842-2.jpg
Logo
EXIT Realty Ocean City
5700 Coastal Highway, Suite 202
Ocean City MD, 21842