October 7, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a vacant multi-family property in Washington, DC. Horvath & Tremblay represented the seller and procured the buyer in the transaction. The desirable value-add asset sold for $1,615,000.
The multi-family property is located at 216 T Street NW in the Bloomingdale neighborhood of Northwest Washington, DC. The Property is situated in between 2nd Street NW and 3rd Street NW, and is seconds from Rhode Island Avenue NW, the area’s primary commercial and commuter corridor. The Property is steps from the Anna J Cooper Circle and is a short walk to Howard University, 1.2-miles from Trinity Washington University and 2-miles from the Catholic University of America. The asset is proximate to a good number of public and charter schools, as well as major DC highways, municipal bus lines, and the Shaw-Howard University Metro Station, which is 0.5-miles away. 216 T Street NW is 0.1-miles from US Highway 1, 0.9-miles from Interstate 395 and 1.4-miles from Downtown Washington, DC. The Property consists of a 100% vacant two-story, fully detached, brick building with a certificate of occupabncy for four (4) residential units. The subject property has approximately 5,352 square feet of gross building area and sits on an 3,179-square-foot RF-1 zoned parcel. The property is separately metered for electricity, heat and air conditioning, and hot water. The building’s location in the Bloomingdale neighborhood is expected to consistently drive rental demand and cause the asset, upon renovation, 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.