1010-1012 16TH ST NE
Washington, DC 20002

Description:

Prime corner-lot multifamily opportunity (1010 & 1012 16th St NE) positioned directly in the path of growth. This 6-unit asset spans across two buildings and features (6) spacious 1BD/1BA + den layouts, each with the potential to be converted into 2-bedroom units—unlocking significant rental upside. At full optimization, Section 8 rents are projected up to $2,545 for 2-bedroom units at this address. The property currently contains 3 vacant units and 3 occupied units at below-market rents. The (3) occupied units are all on month-to-month leases. This asset offers immediate value-add through lease-up and strategic repositioning. Projected stabilized NOI is approximately $95,662+ (pro forma available upon request). Located in Trinidad, the property is within 0.6 miles of the H Street Corridor and approximately 1.0 mile from the Union Market District, a rapidly expanding mixed-use hub with over $2B+ in investment. The asset is also 0.8 miles to Gallaudet University and 1.2 miles to the NoMa submarket, both key drivers of tenant demand. The continued eastward expansion of Union Market and NoMa into Trinidad has supported strong rent growth and long-term appreciation in the area. The property is also approximately 1 mile from the planned Washington Commanders stadium redevelopment at the RFK site, one of the largest long-term redevelopment projects in Washington, DC, expected to drive significant economic growth, infrastructure improvements, and neighborhood appreciation. Investor Open House Scheduled for Thursday 5/7 12-2PM. Call listing agent to reserve your time.