October 18, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of The Wiltshire, a seventeen (17) unit multi-family property in Washington, DC. Horvath & Tremblay exclusively represented the seller in the transaction. The desirable asset sold for $3,100,000 which represents a price of $182,353 per unit.
The Wiltshire is located at 819 E Capitol Street SE in the blue-chip Capitol Hill neighborhood of Washington, DC (the “Property”). The Wiltshire is a short walk from the United States Capitol campus, Eastern Market Metro, Barracks Row, and Union Station. The Wiltshire also offers convenient access to the National Mall and the Eastern Market, Barracks Row, and Navy Yard, offering a wide array of shopping, dining, grocers, public parks, and entertainment options. The property is an exceptionally well-located value-add asset in one of the hottest real estate markets in a region that is poised for future growth. The Wiltshire consists of 11,700 gross square feet within a three-story plus basement brick building with seventeen (17) units currently consisting of twelve (12) efficiencies, three (3) one bedrooms, one 1,280 square foot two bedroom, and a 650 square foot commercial unit with a kitchen and one bathroom. The property’s existing high level of physical vacancy (47%) presents investors with the opportunity to add value immediately and capitalize on the broad range of renters that seek out Capitol Hill for housing. The highly walkable neighborhood offers a multitude of appealing live-work-play amenities, convenient public transportation and highway access, an abundance of public space, and proximity to the nearby commercial centers. Capitol Hill offers easy access to downtown DC, metro-accessibility, and is a 15-minute drive to Amazon HQ2 Headquarters, the Pentagon, and National Airport in Arlington, VA.
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.