December 27, 2024 – Christian Barreiro and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a six (6) unit 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 $1,665,000.
The multi-family property is located at 330 5th Street SE in the Capitol Hill neighborhood of Washington, DC. Located in the heart of DC’s blue-chip Capitol Hill neighborhood, 330 5th Street SE is a short walk from the United States Capitol campus, Eastern Market Metro, Barracks Row, and Union Station. The Property is also convenient 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. 330 5th Street SE 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 Property consists of approximately 4,150 gross square feet within a four-story brick building with six (6) units consisting of one (1) studio, three (3) one bedroom units, and two (2) two bedroom units. The units are individually metered for electric (100 amp service per unit) and gas, both of which the tenants pay directly to the respective utility providers. The Landlord is responsible for domestic water and sewer. The property’s existing high level of physical vacancy (50%) offers the opportunity to add value immediately and capitalize on the broad range of renters that seek out Capitol Hill for housing including Capitol Hill staffers, lobbyists, trade associations, universities, student/interns, just to name a few. Also, the building’s iconic location in the heart of Capitol Hill, a historic neighborhood that has been completely built out, should 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.