August 16, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a twelve unit multi-family property in Washington, DC. The duo exclusively represented the seller to complete the transaction at a sale price of $1,145,000.
The Property is located at 4936 Nash Street NE in Washington, DC. Located in the Deanwood neighborhood of Northeast Washington, DC, the Property is just steps from the border with Prince George’s County, MD. The Property is positioned along a quiet tree lined residential street with close proximity to a wide array of public of charter schools, and public transportation options. The Property is 0.3-miles from the Deanwood Metro Station, 0.6-miles from Anacostia Freeway/Interstate 295, 1-mile from US Highway 50, 4.25 miles from Interstate 95 and 5.5-miles from Downtown Washington, DC. The fully-detached, separately metered building features twelve (12) apartment units comprised of eleven (11), 1-Bedroom/1-Bathroom units and one (1) efficiency unit. The three-story building is 8,028 gross square feet all fully above ground and sits on a 9,530-square-foot RA-1 zoned parcel. The Property also offers ample on-site parking. The Property is a well-maintained 58.33% occupied multi-family Property and offers significant upside. The building has 5 vacancies, which provides the ability to add value immediately on almost half of the building’s units. Adding value would look like the renovation of units and the creation of more bedrooms in the vacant units, which would enable the owner to achieve higher rents.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.