April 12, 2024 – Dennis Cravedi and Christian Barreiro of Horvath & Tremblay have successfully completed the sale of a vacant four (4) unit multi-family property in Washington, DC. The duo exclusively represented the seller to complete the transaction at a sale price of $2,248,350.
The Property is located at 1612 19th Street NW in Washington, DC. Located in DC’s blue-chip Dupont Circle neighborhood, the Property is steps from the Circle, the heart of one of the most well-established commercial areas in the District. 1612 19th Street NW provided the unique opportunity to acquire a vacant turnkey asset with thoughtfully designed and fully-furnished units ready to be rented with strong cashflow immediately upon lease up. The Property consists of a 100% vacant, TOPA-Free, three-story Victorian Brownstone with a lower level and a certificate of occupancy for four (4) apartment units. The units feature in-unit washer and dryers, dishwashers, ceiling fans, temperature control displays, sizable bedrooms, and high ceilings of up to eleven feet. The lower-level unit has a private entrance and rear patio access, with great natural light and eight and a half foot ceiling height. The property contains 3,696 gross square feet and consists of four (4) spacious one bedroom, one-bathroom units. While just half a block from the Dupont Circle Metro Station (Red Line), the property also features two off-street parking spaces at the rear of the building that can be leased out for additional income, which provides a convenient amenity for tenants. The building’s iconic location in Dupont Circle, a desirable neighborhood that has been completely built out, will consistently drive rental demand and enable the asset to continue to serve as a stable and strong cash-flowing investment for years to come. The Property is located within the Dupont Circle neighborhood, a highly desirable location for investors and renters alike. The neighborhood is amenity-rich, with public transportation (Dupont Circle Metro Station just steps away), retail, restaurants, cafes, parks, gyms, and grocery stores within walking distance of the subject property. The property has a Walk Score of 99, making it a “Walker’s Paradise”.
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.