718 LAMONT ST NW
Washington, DC 20010

Description:

THE OPPORTUNITY 718 Lamont Street NW presents an exceptional opportunity to acquire a four-unit multifamily property in the heart of Columbia Heights. The building consists of: • Three (2) 2-Bedroom/1-Bathroom Units • One (1) 3-Bedroom/1-Bathroom Unit With three of the four units currently vacant, the property is well-suited for both owner-occupants seeking rental income from additional units and investors aiming to reposition the asset for long-term value creation. The mix of unit layouts provides flexible leasing potential and broad tenant appeal in one of DC’s strongest rental submarkets. RENT CONTROL EXEMPT For first-time buyers of multifamily property in Washington, DC, ownership of 718 Lamont Street NW would be exempt from rent control under DC law (for owners of four units or fewer). This unique exemption provides flexibility in ownership strategy, greater rent growth potential compared to larger regulated multifamily assets, and an ideal entry point into the DC multifamily market for buyers seeking both stability and upside. SUBSTANTIAL RECENT RENOVATIONS The property underwent a comprehensive renovation in 2021, with ownership investing approximately $253,000 in capital improvements, including new kitchens, upgraded plumbing, modern flooring, central HVAC, and other unit enhancements. This reduces near-term capital expenditure risk while positioning the asset competitively within the Columbia Heights rental market. TRANSIT-ORIENTED ASSET The property offers exceptional access to public transportation, enhancing its desirability for renters and future appreciation: • 0.3 miles to Georgia Ave–Petworth Metro Station (Green & Yellow Lines) • 0.6 miles to Columbia Heights Metro Station (Green & Yellow Lines) • Multiple Metrobus lines (H2, H4, 70, 79, 64) within two blocks, providing direct connectivity to downtown DC, Howard University, and Silver Spring • Access to Capital Bikeshare stations within a 5-minute walk This central, transit-rich location makes commuting seamless and positions the property as a highly attractive housing option for a broad tenant base. ACCESS TO URBAN LIFESTYLE AMENITIES 718 Lamont Street NW sits at the crossroads of Columbia Heights and Petworth, offering immediate access to some of DC’s most vibrant urban amenities: • Grocers • Giant Food – 0.4 miles • Target – 0.6 miles • Safeway – 0.7 miles • Dining & Restaurants • Bad Saint (James Beard-nominated Filipino restaurant) – 0.2 miles • Midlands Beer Garden – 0.3 miles • Queen’s English – 0.4 miles • Thip Khao (Laotian) – 0.6 miles • Nightlife & Entertainment • Wonderland Ballroom – 0.5 miles • DC Nine – 0.8 miles • 9:30 Club – 1.0 mile The property’s location offers a compelling mix of daily conveniences, popular restaurants, and entertainment venues, all within walking distance. This ideal location presents a prime opportunity to attract quality renters within the District.