November 8, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a four (4) unit multi-family property in Washington, DC. Horvath & Tremblay exclusively represented the seller in the transaction. The desirable value-add asset sold for $975,000.
The multi-family property is located at 1430 A Street SE in the Hill East neighborhood of Washington, DC. 1430 A Street SE is exceptionally well-located in Washington DC’s Hill East neighborhood. The Property is approximately 1.25-miles from the U.S. Capitol campus, U.S. Supreme Court, and the Library of Congress. The Property is within 2.5 miles of the National Mall, the Smithsonian Museums, and the National Gallery of Art. The Property is less than a 15-minute walk from three Metro Stations – Stadium-Armory (0.4 miles), Potomac Avenue (0.6 miles) and Eastern Market (0.8 miles), and is also just a short ten-minute metro or Uber ride to downtown DC. The Property is just 2 blocks from Lincoln Park and is a 20-minute walk to high-end retailers, grocers, dining, and entertainment options around Eastern Market and Barracks Row, and 1.6 miles to Navy Yard. The 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. Hill East 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. The Property is a short walk from the RFK Stadium Campus. Formerly home to the Washington Commanders, the 190-acre site is poised for extensive redevelopment. The Property consists of approximately 2,636 gross square feet within a 4-unit multi-family building. The Property contains four (4) one-bedroom units. The property’s existing high level of physical vacancy (4 Vacant Units or 100%) presents investors with the opportunity to add value immediately and capitalize on the broad range of renters that seek out Hill East for housing including Capitol Hill staffers, lobbyists, trade associations, universities, student/interns, just to name a few. Also, the building’s location in Hill East, a historic neighborhood that has been completely built out, will consistently drive rental demand and cause the asset to serve as a strong 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.