Listing IDDCDC2072476
SqFt 6,487
Acres 0.040
Year Built2022
Property TypeMulti Family
Property Sub TypeInterior Row/Townhouse
**Brand new construction** Only 5-Units Remain + Rooftop Decks + 2 parking. Condo Conversion project in Capitol Hill East. Buy individually or All 5 Units (B1, #4, #5, #6, #PH7 + parking). Units B2, #3, and PH8 are under contract. Note: PH7 is Available (with Rooftop Deck - 3BR/3BA 2 Level Units, 1 parking) Neighborhood: Capitol Hill East TOPA FREE 256 15th Street SE will be delivered unoccupied following the completion of brand-new construction. Due to its vacancy status the transaction will not be subject to the Tenant Opportunity to Purchase Act (TOPA) and the inefficiencies the Act imposes on closing times for 1031’s, construction planning and financing timelines. NO RENT CONTROL Being that the building is brand new construction, this asset will not be subject to D.C.’s rent control laws and ownership will effectively be able to adjust their rents to the market with ease. BRAND-NEW CONSTRUCTION Upon the delivery of the building, new ownership can expect only the highest quality of finishes in every apartment. From all-white quartz counter tops, brand new appliances, and two-level three-bedroom units, this asset will be one of the most desirable places to live in the entire area. Ownership can also expect their expense exposure to be extremely limited, with all utilities separately metered (aside from water). STRENGTH OF RENTAL & FOR-SALE MARKET Capitol Hill continues to be one of Washington, D.C.’s most desirable neighborhoods to rent or own an apartment with demand outpacing supply. Asking rents for newly delivered properties have surpassed $4 per square foot while for-sale product is achieving pricing nearing $1,000 per square foot. EASE OF TRANSPORTATION 256 15th Street SE has an “Excellent” Transit Score and is considered a “Biker’s Paradise” with a Bike Score of 93. The Property is a short walk to a number of Metrobus stops, and is just a nine-minute walk from the Blue, Orange, and Silver line metro stops, providing direct access to areas of D.C. and Northern Virginia, making this an ideal location for all working professionals that wish to live in a premier area of D.C.
Listing courtesy of Green Logic, Inc 7038603100

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Ned Malik

6841 Elm Street, #601
McLean, VA 22101
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