September 13, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a seven unit multi-family property in Washington, DC. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,850,000.
The Property is located at 2300 19th Street NW in Washington, DC. Located in DC’s blue-chip Kalorama neighborhood, the Property is a short walk from Dupont Circle and a number of prominent commercial corridors including Columbia Road NW, Mt. Pleasant Street NW, 18th Street NW, U Street NW, and Connecticut Avenue NW. The Property is steps from Kalorama Park, and a short walk from the Smithsonian National Zoo. The asset is proximate to a good number of public and charter schools, as well as major DC highways and the Dupont Circle & Woodley Park-Zoo/Adams Morgan Metro Stations, which are both 0.6 miles away. 2300 19th Street NW is a boutique multi-family asset in one of DC’s most in-demand neighborhoods. The Property consists of a three-story brick building (with cellar) and has approximately 5,600 gross square feet and sits on a 3,911 square foot parcel. The building has seven (7) units consisting of three (3) studio units, three (3) one bedroom units, and one (1) 1,300+ square foot two bedroom unit. Additionally, each tenant is responsible for reimbursing the full cost of water, gas, and electric expenses for the building, which minimizes the amount of upwards utility expense exposure for the landlord. The Property is flexibly zoned (RA-2) and the building’s location in the Kalorama neighborhood is expected to consistently drive rental demand and cause the asset to serve as a reliable and appreciating investment for years to come.
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.